The Congolese franc (French: franc congolais, codeFC) is the currency of the Democratic Republic of the Congo. It is subdivided into 100 centimes. However, centimes no longer have a practical value and are no longer used. In April 2024, 2,800 francs was equivalent to US$1.
Currency denominated in centimes and francs (called frank in Dutch) was first introduced in 1887 for use in the Congo Free State (1885–1908). After the Free State's annexation by Belgium, the currency continued in the Belgian Congo. The francs were equal in value to the Belgian franc. From 1916, the Congolese franc also circulated in Ruanda-Urundi (present day Rwanda and Burundi) and, from 1952, the currency was issued jointly in the names of the Belgian Congo and Ruanda-Urundi. After the independence of the Democratic Republic of the Congo in 1960, Ruanda-Urundi adopted its own franc, whilst, between 1960 and 1963, Katanga also issued a franc of its own.
A currency based on the gold standard was created for the Congo Free State in 1887. Banknotes were issued from 1896 in the name of the General Treasury of the Congo Free State (Trésoire générale de l'État indépendant du Congo) payable to the bearer, until the annexation of the Free State in 1908.[1]
As a result of the confused legal definition under Article 11 of the 1908 Colonial Charter, it has been argued that that the Congolese franc did not exist de jure as a currency between 1908 and 1960 and was instead merely a token representing a claim on Belgian francs.[2] It did exist, however, as the sole de facto currency in the Belgian Congo and Ruanda-Urundi.[3]
A decree in 1911 authorised the private Bank of the Belgian Congo (Banque du Congo Belge, BCB) to issue banknotes for the Belgian Congo payable to the bearer. They could be converted into the gold or silver currency of the Latin Union or into foreign currencies at the prevailing gold exchange rate.[2] Convertability was suspended during World War I and was only restored in 1927. Although the Congolese franc had appreciated during the conflict, it was restored to parity with the Belgian franc in 1919.[4] Parity was again broken during World War II.[4] After the conflict, the Congolese and Belgian francs continued to form part of the "Belgian monetary zone" under the Bretton Woods system.[5] A central bank was created in 1951 entitled the Central Bank of the Belgian Congo and Ruanda-Urundi (Banque Centrale du Congo Belge et du Ruanda-Urundi, BCCBRU) which subsequently issued both coins and banknotes and dealt with foreign exchange controls and was partially supported by the National Bank of Belgium.[6]
The franc remained Congo's currency after independence in 1960. Afterwards, its value relative to the Belgian franc fell. In 1967, when the zaire was introduced, at a rate of 1 zaïre = 1,000 francs.
Coins
Obverse and Reverse of an 1887 Franc minted for the Congo Free State, with the unabridged and translated obverse lettering of "Leopold II, King of the Belgians, Sovereign of the Independent State of the Congo".
In 1887, holed, copper coins were introduced in denominations of 1, 2, 5 and 10 centimes, together with silver coins worth 50 centimes, and 1, 2, and 5 francs. Coins ceased to be minted in silver in 1896. Holed, cupro-nickel 5, 10 and 20 centime coins were introduced in 1906, with the remaining copper coins (worth 1 and 2 centimes) minted until 1919. Cupro-nickel 50 centime and 1 franc coins were introduced in 1921 and 1920, respectively.
The coinage of Belgian Congo ceased in 1929, only to be resumed in 1936 and 1937 for the issue of nickel-bronze 5 franc coins. In 1943, hexagonal, brass 2 franc coins were introduced, followed by round, brass coins worth 1, 2 and 5 francs, and silver 50 franc coins, between 1944 and 1947.
In 1952, brass 5-franc coins were issued carrying the name "Ruanda-Urundi" for the first time.[7]
Aluminum coins worth 50 centimes, 1 and 5 francs followed between 1954 and 1957. In 1965, the only franc-denominated coins of the first Democratic Republic of Congo were issued, aluminum coins worth 10 francs.
As with Belgium's own coins, some types were issued in two distinct versions, one with French legends, the other with Dutch legends.
Banknotes
500 francs, issued by the Bank of the Belgian Congo, 1943 (obverse and reverse)
In 1896 the Congo Free State issued 10 and 100 franc notes. In 1912, the Bank of Belgian Congo introduced 20 and 1000 francs, followed by notes of 1, 5 and 100 franc notes in 1914. The 1-franc notes were only printed until 1920, whilst 10 franc notes were introduced in 1937. 500 francs were introduced in the 1940s, with 10,000 francs introduced in 1942.
In 1952, the Central Bank of Belgian Congo and Ruanda-Urundi introduced notes for 5, 10, 20, 50 and 100 francs, with 500 and 1000 francs added in 1953.
In 1961, the National Bank of Congo introduced notes for 20, 50, 100, 500 and 1000 francs, some of which were issued until 1964. In 1962, the Monetary Council of the Republic of Congo introduced 1000 franc notes, which were notes of the Central Bank of Belgian Congo and Ruanda-Urundi overprinted with the Monetary Council's name. In 1963, the Monetary Council issued regular type 100 and 5000 franc notes.
Second franc (1997–present)
The franc was re-established in 1997, replacing the new zaïre at a rate of 1 franc = 100,000 new zaïres, equivalent to 300 trillion old francs.
Coins have not been issued as even denominations below one franc were issued in banknote form only.
Banknotes
On 30 June 1998, banknotes were introduced in denominations of 1, 5, 10, 20 and 50 centimes, 1, 5, 10, 20, 50 and 100 francs, though all are dated 01.11.1997. 200-franc notes were introduced in 2000, followed by 500-franc notes in 2002. As of July 2018, the only negotiable instrument in circulation in the Democratic Republic of the Congo are banknotes of 10, 20, 50, 100, 200, 500, 1,000, 5,000, 10,000 and 20,000 francs. Meanwhile, merchants in Kinshasa were skeptical about the 5,000-franc note due either to counterfeiting of this denomination, or else an irregular or unauthorised issue of the genuine note, bearing the serial number suffix C. Although the banknote is accepted in most of the country, it is no longer in circulation in Kinshasa.
In 2010, the Central Bank of the Congo issued 20 million 500 franc banknotes to commemorate the country's 50th anniversary of independence from Belgium.[8]
On July 2, 2012, the Central Bank of the Congo issued new banknotes in denominations of 1,000, 5,000, 10,000 and 20,000 francs.[9][10][11][12][13]
The smallest note in use is 50 francs.
Banknotes of the Congolese franc (01.11.1997 issue)
The lek is the currency of Albania. Historically, it was subdivided into 100 qintars.
The CFP franc is the currency used in the French overseas collectivities of French Polynesia, New Caledonia, and Wallis and Futuna. The initials CFP originally stood for colonies françaises du Pacifique but since 2022 is officially Collectivités françaises du Pacifique. Its ISO 4217 currency code is XPF. The CFP franc is subdivided into 100 centimes, although there are no centime denominations. The currency is issued by Institut d'émission d'outre-mer (IEOM).
The Swiss franc, or simply the franc, is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins.
The franc, also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced in 1795. After two centuries of inflation, it was redenominated in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc. Many French residents, though, continued to quote prices of especially expensive items in terms of the old franc, up to and even after the introduction of the euro in 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries. Between 1998 and 2002, the conversion of francs to euros was carried out at a rate of 6.55957 francs to 1 euro.
The kip is the currency of Laos since 1955. Historically, one kip was divided into 100 att (ອັດ) which are no longer in regular use. The term derives from ກີບ kì:p, a Lao word meaning "ingot."
The dinar is the monetary currency of Algeria and it is subdivided into 100 centimes. Centimes are now obsolete due to their extremely low value.
The gourde or goud is the currency of Haiti. Its ISO 4217 code is HTG and it is divided into 100 centimes (French) or santim (Creole).
The Belgian franc was the currency of the Kingdom of Belgium from 1832 until 2002 when the euro was introduced. It was subdivided into 100 subunits, each known as a centiem in Dutch, or centime in French and German.
The Luxembourg franc (F or ISO LUF, Luxembourgish: Frang), subdivided into 100 centimes, was the currency of Luxembourg between 1854 and 2002, except from 1941 to 1944. From 1944 to 2002, its value was equal to that of the Belgian franc. The franc remained in circulation until 2002, when it was replaced by the euro.
The franc is the currency of Burundi. It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued.
The Guinean franc is the currency of Guinea. It is subdivided into one hundred centimes, but no centime denominations were ever issued.
The Djiboutian franc is the currency of Djibouti. Its ISO 4217 currency code is DJF. Historically, it was subdivided into 100 centimes.
The franc is the official currency of Comoros. It is nominally subdivided into 100 centimes, although no centime denominations have ever been issued.
The zaire was the unit of currency of the Democratic Republic of the Congo and then of the Republic of Zaire from 1967 until 1997. All but six of the 79 series of banknotes issued bear the image of Mobutu Sese Seko. Two distinct currencies existed: zaire, and nouveau zaïre.
The Katangese franc, was the currency of the unrecognized State of Katanga between 1960 and 1963 during its brief period of independence from the Republic of the Congo. It replaced the Congolese franc at par and was consequently initially equal to the Belgian franc. This established an exchange rate of 50 francs = 1 U.S. dollar. Just before Katanga was re-annexed by Congo, the exchange rate had fallen to 195 francs = 1 U.S. dollar. The currency was replaced at par by the Congolese franc.
The Malian franc was the independent currency of Mali between 1962 and 1984. Although technically subdivided into 100 centimes, no subdivisions were issued.
The franc was the currency of Algeria between 1848 and 1964. It was subdivided into 100 centimes.
The Central African CFA franc is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries had a combined population of 55.2 million in 2020, and a combined GDP of over US$100 billion.
The West African CFA franc is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$128.6 billion as of 2018.
The Ruanda-Urundi franc was a currency issued for the Belgian mandate territory of Ruanda-Urundi in 1960–62 which continued to circulate within its successor states of Rwanda and Burundi until 1964. The currency replaced the Belgian Congo franc which had also circulated in Ruanda-Urundi from 1916 to 1960 when the Belgian Congo became independent, leaving Ruanda-Urundi as the sole Belgian colonial possession in Africa. With the independence of Rwanda and Burundi in 1962, the shared Ruanda-Urundi franc continued to circulate until 1964 when it was eventually replaced by two separate national currencies.
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
Democratic Republic of the Congo 
First Congolese Republic 
Ruanda-Urundi 
Belgian Congo 
