US Dollars Continue to Plummet Against The Leones

Sierra Leoneans were left bemused several days ago after the US Dollars for the first time in more than a year plummeted against their local currency, Leones.

According to Exchange Rate Guru, the 100 US Dollars is now less than NLe 1,800.

“The cost of 100 United States Dollars in Sierra Leonean Leones today is 1,766,500 SLL according to the ‘Open Exchange Rates’ compared to yesterday, the exchange rate remained unchanged,” Exchange Rate Guru said.

Although some locals are jubilant over the new rate, the Government is silent over the new rates.

The Johns Hopkins Hancke Currency Watchlist ranked the Leone as the fifth most depreciated currency in the world for the year 2022.

The country’s Acting Bank Governor Dr. Ibrahim Stevens earlier this year put several measures in place to ameliorate the continuous plummeting of the Leones against the US Dollars and other foreign currencies. (Tramadol)

Some locals have complained that while the dollar continues to fall food stuffs are still at a high rate.

“The apple cedar (juice) I bought NLe 10 two days ago is still the same,” Local journalist, Musa Kamara complained on his Facebook page.

Sierra Leoneans are facing rising inflation which the Government has pinned on the protracted effect of the war in Ukraine.

The West African nation imports large quantity of food stuff including staple food, rice.

Comment(s)

Disclaimer: Comments expressed here do not reflect the opinions of Sierraloaded or any employee thereof.

Oga Titus | 2023-06-23 17:12:29

the government should have done this ever since, not few days to the election. is this a means to fool we the low thinkers!
| 2023-06-21 00:36:49

It's true, but the problem is that all traders are afraid to Price their goods base on current dollar price because they are not sure if this new dollar rate is going to permanently maintain in the market or may be it's just temporary change, If you ask any trader now he or she will tell you that I would wait few weeks after the election to finally decide my goods prices
| 2023-06-20 20:00:58

I see this as a propaganda, so what have they been doing all this time. While everything is skyrocketing
| 2023-06-20 14:30:12

A $100 from Le 2,700 down to Le 1,700 !!! This current standard of living in this country is not favorable to we the Citizens of the Nation, suffering like hell. Doller goes down but goods and products still remain at the same price. I will call this 4 1 9.
| 2023-06-20 10:03:14

it a fake news, nothing ever changed, infact the prices are going up every single day....
Alieumansaray | 2023-06-19 18:37:41

As me it's better for the food stoff to remain so than to inflate. But the worst will happen when food stoff continuing to inflate.
Mohamed Haddi Kamara | 2023-06-19 18:27:20

Amb
| 2023-06-19 18:02:02

This is confusing the Bank of Sierra Leone need to update there website if this is true. Because it's confusing to me as for now.
Medish | 2023-06-19 17:41:41

How can someone expect for food commodities to down rapidly just like some people expect it just now
Mohamed Mansaray | 2023-06-19 13:00:11

Most of this website news are fake news
| 2023-06-19 12:02:58

If it is true let the dollar rate reflect on the prices of goods and commodities.
Koroma | 2023-06-19 10:26:27

Let the Government try to reflect this on the cost of the daily necessities on the lives of the citizens, as prices of the Bags of rice, flour, cement, iron rod, corrugated iron sheets, cellotex, and many more are still the same.
| 2023-06-19 10:18:08

FALSE!!! It's NOT true. Visit bsl.gov.sl and see the CORRECT exchange rate. STOP misinforming people. We expect you to verify anything before you post it. Let the so-called '... Guru' stop misinforming people and sierraloaded.sl should NOT join others to misinform people.
Alpha Kharmoh | 2023-06-19 10:09:22

This could be a good sign for the government, it could be a wrap-up message to the electorates.
Samuel S. Musa | 2023-06-19 10:08:57

Wow great news