The Leone, Sierra Leone’s legal tender, stabled throughout the month of October in the market.

While the price on the exchange rate of $100 used to be rapidly free-floating in the country, it was reportedly seen to be sold at a more stable price between September and October this year.

But the stability hasn’t much more positive effect on the prices on goods and services in the country.

Most goods especially condiments and foodstuffs were increasing in costs almost on weekly bases.

This reality is further reinforced by a young man who was heard grumbling about the exorbitant prices on local foodstuffs in the country.

“Just give Le 100,000 to a woman to prepare food for you; you would be shocked to realize that the money wouldn’t be enough to buy all the ingredients needed for the cooking,” he was telling his colleagues as they seated on Rawdon Street, Freetown’s Central Business District (CBD).

Sierra Leone’s new appointed Bank Governor is Dr. Ibrahim Stevens who has replaced Prof. Kelfala Kallon after the latter’s term in office had expired.

Just after the general elections which happened on June 24, 2023, the United States’ dollar kept fluctuating against the weakening Sierra Leone’s legal tender, the Leone.

By early 2023 between January and April, the inflation on the domestic currency was occurring rapidly in every month, thereby causing prices on goods and services and on basic foodstuffs to be increasing almost daily.

With two days ahead of the elections, the US dollar went down by a “small margin” in government foreign currency exchange bureaus.

By May and early June, 2023, $100 stood at Le 2,300,000 (Two Million, Three Hundred, Thousand Leones). The dollar-dealers said then that the price had been stabilized due to government injecting some dollars on the economy.

But, that decline or stability only lasted about two days and then the foreign currency continued to slump up again.

However, just two days ago, on October, precisely, the exchange rate maintained a stable position than in the past few months in early year of 2023. That did not mean the difference in the exchange rate of the US dollar to the Leone between July and October did not record higher figures. It did. Currently, there has been Le 100 sum being added to the Leone on the buying cost of $100 since June this year.

The latest official price on the American currency against the Leone had showed a period of stability.

On October 30, 2023, $100 stood at Le 2, 250,000 ( Two Million, Two Hundred and Fifty Thousand Leones), according to a price given by government’s Rokel Commercial Bank along Wilberforce Street, in Freetown.  In the black market $ 100 was bought at Le 2,400,000 ( Two Million, Four Hundred, Thousand Leone ) and it was sold at  Le 2,430,000 (Two Million, Four Hundred and Thirty, Thousand Leone) as of October, 30, 2023.