The Republic of Sierra Leone has redenominated its currency, the Leone. The process, which took place on the 1st of July, knocked off three zeros off its old currency, which has been in circulation for decades. Even though there are no real economic benefits to the process, it hopes to make it easier for business people who are used to carrying large amounts of cash.
Its government also hopes that the new currency will give investors more confidence in doing business in the West African country. The new redenominated currency has the same value as the old one. Previously, $1 equaled SLL13,000. In the redenominated currency, $1 is now equal to SLL13.
Some Useful links
Apply for the Ashinaga Africa Initiative Scholarship 2023 ( Fully Funded Undergraduate Studies in the U.S., UK, and Japan)
Tags Cloud
Africa attempted coup Business cooking records countries diversity hilda baci Hilda Baci Guinness World Record Marathon Cooking: Kenya Kipchoge Mali Marathon Money Mount Kilimanjaro News Newsbeat Opinion opportunities political stability Scholarships Sierra Leone Sport Stories Study abroad The Gambia travel World
Latest Posts
- Defence Minister Oboth Oboth Pledges Gov’t Support to NEC-WATU Oil Filter Manufacturing factory
- Nile Breweries trains 400 local retailers in Western Uganda
- A leader who transformed Sierra Leone’s engineering landscape – The Sierra Leone Telegraph
- Father in disbelief as son changes his small church into a modern one
- Ruto move throws MPs who voted ‘Yes’ under the bus
