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BREAKING: Sierra Leonean Leones Gains More Value Against US Dollar

The exchange rate of Sierra Leonean leones has today Wednesday 22nd August 2018 dropped from SLL 960,000 to SLL850,000 against and 100 US Dollar.

This follows after the Bank of #SierraLeone today started the auction of US$5million to address the scarcity of the currency.

This first in a series of moves, which is expected to considerably bring down the current exchange rate of Le9,100 to a Dollar by September, would also boost money supply in the market; rescue the flagging Leones against the US dollars; beat down soaring commodity prices and manage import induced Inflation.

Meanwhile, Foreign DirectInvestment and export boom, the return of budgetary support by International Monetary Funds are all in the offing to sustain extant interventions.

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