Currency
In the Democratic Republic of Congo, the US dollar is legal tender in addition to the Congolese franc, though there are certain rules that I am quickly learning.
Rule #1: Most small currency transactions are conducted in francs. The current exchange rate is about 470 francs to US $1. The largest franc notes are 500f, though those are pretty uncommon. The 200f note is what people use. To give you a sense of how this works: I went to an electronics store on Friday to buy a few things a transformer and a couple of small electrical adapters. They gave me two receipts. The transformer was $40; the adapters were 500f and 1,500f. Most stores will let you pay in either francs or dollars. At the guest house where I am staying, I pay 200f for a soda with dinner, but I will pay for the room itself in US dollars.
Rule #2: No US $1 bills circulate here. I am not entirely sure why, but that is the rule and it connects to Rule #1. You may use $5 bills or larger denominations only. If you pay in US dollars and are owed change, you will be given your change in francs.
Rule #3: All US currency must be in pristine condition. On Friday afternoon, I went to purchase a phone card, which comes in a $5 denomination, from the security sentinels at the guest house. To my eyes, the bill looked to be in fine condition. He held it up to the sun and found the smallest of holes, and wouldn’t accept it. This is not the kind of thing that I would have ever noticed, and I can’t imagine anyone in the US ever noticing it. But he was correct, it was a hole, so I returned to my room to find another bill. (The condition rule does not apply to francs, most of which are pretty rough. Torn, taped, or otherwise jacked up.)
Rule #4: No small-headed currency. I returned with an old-style $5 bill, but he would not accept that either. He wanted a “gros tête” (fat head) bill. They don’t accept the old-style bills. (This actually could explain Rule #2, since I don’t think there is a big-headed Washington.) At an information kiosk in front of the US Embassy, there is an official announcement, dated 2002 I believe, on this very subject, stating that old-style US currency is still considered legal tender after the introduction of the new currency. Of course, historically when new currency is introduced here, it replaces (or at least devalues) the older notes, so there are very good reasons to favor the new currency.
Rule #1: Most small currency transactions are conducted in francs. The current exchange rate is about 470 francs to US $1. The largest franc notes are 500f, though those are pretty uncommon. The 200f note is what people use. To give you a sense of how this works: I went to an electronics store on Friday to buy a few things a transformer and a couple of small electrical adapters. They gave me two receipts. The transformer was $40; the adapters were 500f and 1,500f. Most stores will let you pay in either francs or dollars. At the guest house where I am staying, I pay 200f for a soda with dinner, but I will pay for the room itself in US dollars.
Rule #2: No US $1 bills circulate here. I am not entirely sure why, but that is the rule and it connects to Rule #1. You may use $5 bills or larger denominations only. If you pay in US dollars and are owed change, you will be given your change in francs.
Rule #3: All US currency must be in pristine condition. On Friday afternoon, I went to purchase a phone card, which comes in a $5 denomination, from the security sentinels at the guest house. To my eyes, the bill looked to be in fine condition. He held it up to the sun and found the smallest of holes, and wouldn’t accept it. This is not the kind of thing that I would have ever noticed, and I can’t imagine anyone in the US ever noticing it. But he was correct, it was a hole, so I returned to my room to find another bill. (The condition rule does not apply to francs, most of which are pretty rough. Torn, taped, or otherwise jacked up.)
Rule #4: No small-headed currency. I returned with an old-style $5 bill, but he would not accept that either. He wanted a “gros tête” (fat head) bill. They don’t accept the old-style bills. (This actually could explain Rule #2, since I don’t think there is a big-headed Washington.) At an information kiosk in front of the US Embassy, there is an official announcement, dated 2002 I believe, on this very subject, stating that old-style US currency is still considered legal tender after the introduction of the new currency. Of course, historically when new currency is introduced here, it replaces (or at least devalues) the older notes, so there are very good reasons to favor the new currency.
posted by irad at 12:51 PM
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