The zaire is also the name of the monetary unit of Zaire, introduced in 1967 to replace the Congolese franc. It was divided into 100 makuta (plural of likuta), each nominally divided into 100 sengi. After hyperinflation it was replaced by the new zaire at a rate of 3 000 000 for one. In 1998, a year after the country was renamed Democratic Republic of Congo, the Congolese franc was reintroduced, replacing the new zaire at 100 000 for one.