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The Bank of Sierra Leone has on the 20th of September released the official foreign exchange rate in the country.
The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.
In the week from September 17 to September 20, 2024, the British pound demonstrated a significant rise against both the US dollar and the euro. In contrast, the euro experienced more modest fluctuations. The US dollar showed relative stability during the same period.
The Central Bank’s disclosed rates are as follows:
Pounds Sterling: Buy at Le 30.1914, Sell at Le 29.8887
U.S. Dollars: Buy at Le 22.7003, Sell at Le 22.4744
Euro: Buy at Le 25.3454, Sell at Le 25.0955
Meanwhile, in the unofficial market, the US dollar settled at Le25 (Buying) and Le24.2 (Selling) on Monday, September 22, 2024. This is according to parallel market operators in Central Freetown and Lungi.
NOTE: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.
I don’t understand this rate ooo… I’m seeing the buying price greater than the selling price
Please make them reduce the rate of foreign currency so we people of sierra leone will be able to aford our daily breD
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What is going on, mama Salone. Inflations upon inflations.
Do we buy now high and sell less?