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Sierra Leone announces the re-denomination of its currency

by Alhassan Lamin
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The Central Bank of Sierra Leone has announced the redenomination of the country’s currency “the leones”. 

According to a draft press release, the last three zeros in the currency will be dropped. This change is applicable under Section 30 of the Bank of Sierra Leone Act 2019. 

This means that SLL 10, 000 will be SLL 10, and this will be equivalent to one US dollar. However, no date has been set yet for the commencement of this change.

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