DRC central bank more than triples rate amid reserves squeeze
Congo central bank raises headline rate five percentage points
The Central Bank of the Democratic Republic of Congo raised its headline interest rate five percentage points on September 28 as it seeks to halt the decline of its foreign reserves.
The central bank has been intervening throughout the year to support the Congolese franc, which has come under pressure amid a slump in copper prices. The country is home to some of the world's largest copper deposits.
Foreign reserves dwindled to a fraction over $1 billion at the start of September, barely enough
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