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The Central Bank of the Democratic Republic of Congo (BCC) has announced a ban on cash transactions in foreign currencies, including the US dollar, to strengthen the local economy.
The bank said in a statement on Thursday that the new regulation will go into effect on April 9, 2027.
From that date, no individual will be allowed to carry out cash transactions in foreign currencies, and commercial banks will also be prohibited from physically importing foreign cash.
“From April 9, 2027, no person will be authorised to carry out cash transactions in foreign currencies,” and no commercial bank would be “permitted to physically import foreign currency,” said BCC governor Andre Wameso in a statement.
Wameso said foreign currency transactions will still be allowed, but only through electronic banking channels.
The central bank said the policy is aimed at reducing money laundering risks and curbing the financing of terrorism.
In recent years, the US dollar has become widely used across the country, often replacing the weak Congolese franc in everyday transactions.
Dollars now account for most payments exceeding $5, while the local currency continues to depreciate.
The franc currently trades at about 2,300 to the dollar, compared to around 920 in 2010, reflecting years of economic instability and high inflation.
Authorities have made several unsuccessful attempts in the past to reduce reliance on foreign currency, including a 2024 directive requiring payment terminals to process transactions only in francs.
Despite its vast mineral wealth and a population of over 100 million, the DRC remains one of the poorest countries globally.
