Sierra Leone’s currency is the LEONE (Le) which is made up of 100 cents. br>
Paper money is available in denominations of:-
The central bank of the country is the BANK OF SIERRA LEONE whose objectives include:- br>
• promotion of monetary stability and sound financial structure br>
• maintenance of the internal and external values of the Leone br>
• promotion of credit and exchange conditions conducive to balanced economy growth br>
• issuance and distribution of notes and currency in the country br>
• formulation and implementation of monetary policy br>
• banker and advisor to the Government in financial and economic matters br>
• management of domestic and foreign debt br>
• acting as custodian of the country’s reserve of approved foreign exchange br>
• acting as banker to the Commercial Banks br>
• supervision and regulation of activities of commercial banks and other financial institutions br>
• administration of the operations of structural adjustment programmes where the bank has specific responsibilities br>
• rural banking br>
• diamond certification
the Bank of Sierra Leone is a 100 per cent state owned corporate body
Sierra Leone operates a floating exchange rate system and foreign currencies can be exchanged at any of the commercial banks, recognised foreign exchange bureaux and most hotels.
CREDIT CARDS br>
Limited use in Sierra Leone, though they may be utilised at some hotels and restaurants, for which you should check in advance with local managements. Sierra Leone does not have internationally linked Automatic Teller (ATM) machines.
TRAVELLERS CHEQUES br>
May be utilised at major hotels or cashed at banks and at few limited shop outlets.
CURRENCY EXCHANGE br>
It is important that Sierra Leone exchange regulations be observed – for example, it is illegal to exchange money with unlicensed money dealers. All transactions may only made at banks or recognised foreign exchange bureaux.
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