Currencies

Congo’s FX Reserves Fuel Currency’s 29% Rally to No.1 Spot in Africa

Congo’s franc notes wrapped in a currency trader’s cabin at a market in Kinshasa, Democratic Republic of Congo.
Photographer: Arsene Mpiana/AFP/Getty Images

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By Michael J Kavanagh and Ray Ndlovu

December 8, 2025 at 5:15 PM UTC

A surge in the Democratic Republic of Congo’s foreign-currency holdings and a shift in central-bank policy have fueled an almost 29% rally in the franc this year, making it Africa’s best-performing currency against the dollar alongside the cedi.

Congo’s franc is now level with Ghana’s cedi, which had held the top spot for much of the year, according to data compiled by Bloomberg.