Zaire Currency Overview and Evolution

The Zaire currency has a fascinating history. It was introduced in 1967 as a replacement for the Congolese franc, which was the official currency of the Congo.

The Zaire was initially pegged to the US dollar at a rate of 1 Zaire to 0.06 US dollars. This peg was later adjusted to 1 Zaire to 0.03 US dollars in 1973.

One of the most notable aspects of the Zaire currency was its rapid inflation. In the 1980s, prices were increasing at an alarming rate, with some estimates suggesting that the inflation rate reached as high as 1,500% per year.

The Zaire continued to lose value, and by the 1990s, it had become nearly worthless.

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The zaire was introduced in 1967, replacing the Congolese franc at an exchange rate of 1 zaire = 1000 francs. This was a significant change for the country's economy.

The zaire was subdivided into 100 makuta, each of 100 sengi, but the sengi was worth very little and only one coin was issued in 1967. This unusual currency structure was a unique aspect of the zaire.

Between 1971 and 1976, the zaire was pegged to the U.S. dollar with an exchange rate of Z0.50 to US$1. This stability was short-lived, as the zaire began to devalue rapidly.

Here are some key devaluation dates for the zaire:

The zaire continued to lose value, with the exchange rate for one U.S. dollar fluctuating wildly.

Coins were introduced in 1967 by the National Bank of Congo in denominations of 10 sengi, 1 likuta, and 5 makuta.

The first coins issued by the Bank of Zaire were introduced in 1973, featuring cupro-nickel 5, 10, and 20 makuta denominations.

A new coinage was introduced in 1987, consisting of brass 1, 5, and 10 zaires, with a 10 zaires coin added in 1988.

The first notes issued by the National Bank of Congo in 1967 were for 10, 20, and 50 makuta, 1 and 5 zaires, or alternatively 100 and 500 makuta.

The Bank of Zaire started issuing notes for 1, 5, and 10 zaires in 1972, followed by 50 makuta notes in 1973.

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In 1993, the new zaire was introduced, replacing the first zaire at an exchange rate of 1 new zaire = 3,000,000 old zaires.

The new zaire was only issued in banknote form and was subdivided into 100 new makuta.

The new zaire suffered from extremely high inflation compared to its predecessor until 1997.

Here are the reported exchange rates by the U.S. Treasury for the new zaire per USD:

The new zaire was replaced by the Congolese franc on July 1, 1998, at an exchange rate of 1 franc = 100,000 new zaires.

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Coins were first introduced by the National Bank of Congo in 1967 in denominations of 10 sengi, 1 likuta and 5 makuta.

The lower two denominations were made of aluminium, while the highest denomination was made of cupro-nickel.

In 1973, the Bank of Zaire issued its first coins in cupro-nickel, with denominations of 5, 10 and 20 makuta.

A new coinage was introduced in 1987, consisting of brass coins in denominations of 1, 5 and 10 zaires.

The 10 zaires coin was introduced in 1988, completing the new coinage.

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The National Bank of Congo introduced notes for 10, 20 and 50 makuta, 1 and 5 zaires in 1967. These notes were also shown as 100 and 500 makuta.

In 1971, 10 zaire notes were introduced by the National Bank of Congo.

The Bank of Zaire started issuing notes for 1, 5 and 10 zaires in 1972.

50 makuta notes were introduced in 1973 by the Bank of Zaire.

The Bank of Zaire introduced 50 zaïre notes in 1980.

100 zaires notes were introduced in 1983 by the Bank of Zaire.

500 zaires notes were introduced in 1984 by the Bank of Zaire.

1000 zaires notes were introduced in 1985 by the Bank of Zaire.

5000 zaires notes were introduced in 1988 by the Bank of Zaire.

10,000 zaires notes were introduced in 1989 by the Bank of Zaire.

2000, 20,000 and 50,000 zaires notes were introduced in 1991 by the Bank of Zaire.

100,000, 200,000, 500,000, 1,000,000 and 5,000,000 zaires notes were introduced in 1992 by the Bank of Zaire.

The 5,000,000 zaire note was not accepted as legal tender for several weeks in some parts of the country due to a mistrust of the new currency.

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The Zaïre, also known as the Zaire, was the currency of Zaire, which is now the Democratic Republic of the Congo.

It was introduced in 1967, replacing the Congolese franc.

The Zaïre was subdivided into 100 makuta.

The currency was renamed the Congolese franc in 1997.

In 1997, the Congolese franc replaced the Zaïre at a rate of 100,000 old francs to 1 new franc.

The Zaïre was widely used in the Congo and was also used in other African countries.

The currency was plagued by inflation, with prices rising rapidly in the 1990s.

The Zaïre was eventually replaced by the new Congolese franc, which has been in use since 1997.

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