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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Congo’s foreign currency reserves fall to $36 mln

Posted on 06 February 2009

From Forbes: Democratic Republic of Congo’s foreign currency reserves have fallen to $36 million, a Central Bank official told Reuters on Thursday, continuing a slide from $75 million in December and from over $225 million last April.

Congo has seen demand for its minerals, oil, timber and diamond exports slump since mid-2008 and has had to intervene in the currency markets to try and shore up its franc, which has lost 20 percent of its value since September. …. Full Article: Source


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