New Cuts From 500 FC, 1,000 FC And 5,000 FC In Circulation From August 2018
A new series of denominations of 500, 1,000 and 5,000 Congolese francs (CDF) will be put into circulation from August 2018. According to a statement issued by the Issuing Institute, the revision of the The fiduciary range of the national currency will be in two phases, with the aim of optimizing the security level of banknotes.
The fight against counterfeiting is one of the motivations that led to the issuance of these new cuts. “The Central Bank of Congo informs the public that the notes of the old series are legal tender throughout the national territory and will circulate concomitantly with those of the new series until their full replacement. Further details on the application of these measures will be provided at the time of the actual circulation of new Congolese franc notes, “says the Central Bank of Congo (BCC).
He added: “The staggering of the release of the remainder of the new series of notes on the year 2019, through replacement issues to ensure the stability of the macroeconomic framework. ”
- On this sacred day of June 30, 2018, commemorative day of the independence of our country, the Democratic Republic of Congo, and anniversary of the launch of the first and second series of Congolese franc notes; Considering that the current series of notes of the Congolese Franc have been in circulation for six years for the second and nineteen years for the first, according to the families of banknotes;
- Considering the practice that tickets in a series are retouched every five to ten years after their circulation, in order to counter attempts to counterfeit, including the adoption of new security features;
- Noting the multiplication of attacks by counterfeiters against the national currency;
- Noting with regret the deplorable situation which affected my cut of 5,000 CDF during the first quarter of 2017;
- Considering the Constitution of the Republic, in its articles 1st, 170 and 177;
- Having regard to Law No. 005/2002 of May 7, 2002, relating to the constitution, organization and functioning of the Central Bank of Congo, especially in Articles 3 and 7;
- Given the necessity;
Informs the public of the launch of the review of the fiduciary range of the Congolese franc (CDF), in order to optimize the security of the notes.
Source: congoactu
