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Leone Ranks Second Weakest Currency in Africa for September 2025


The Sierra Leonean Leone has been ranked as the second weakest currency in Africa, according to a Forbes currency calculator report for September 2025, underscoring the lingering pressure on Sierra Leone’s economy despite recent signs of easing inflation.

The Forbes currency calculator, which sources real-time foreign exchange market data via the Open Exchange Rates API, updates every five minutes to reflect live trading values.

The system captures the impact of demand and supply, market sentiment, and broader economic conditions on each nation’s currency performance.



According to the data, the São Tomé & Príncipe Dobra (22,282 per $1) topped the list of Africa’s weakest currencies, followed by the Sierra Leonean Leone (20,970), Guinean Franc (8,680), Ugandan Shilling (3,503), and Burundian Franc (2,968). Others on the list include the Congolese Franc (2,811), Tanzanian Shilling (2,465), Malawian Kwacha (1,737), the Nigerian Naira (₦1,490 per $1), and the Rwandan Franc (1,448).

In contrast, the Tunisian Dinar (2.90 per $1), Libyan Dinar (5.40), Moroccan Dirham (9.91), Ghanaian Cedi (12.31), and Botswanan Pula (14.15) were ranked as the five strongest currencies in Africa.

The continent currently has 54 recognised countries, according to the United Nations and geographic data sources.

Meanwhile, Sierraloaded reported that Sierra Leone’s inflation rate showed significant improvement in 2025 with headline inflation dropping to 7.10% in June 2025, down from 7.55% in May 2025. This follows a reported 13.8% in December 2024.

A Consumer Price Index (CPI) report released by Statistics Sierra Leone in June 2025 highlights a 0.26% month-on-month decline in consumer prices, reversing the 0.05% increase observed in May and marking a rare instance of deflation in the national economy.

In response, the Monetary Policy Committee (MPC) of the Bank of Sierra Leone (BSL), following its quarterly meeting on July 24, 2025, announced a significant reduction in its key policy rates, effective July 29, 2025.

The move aims to sustain macroeconomic stability, address inflationary pressures, and stimulate private sector credit.

The Monetary Policy Rate (MPR) was reduced by 2 percentage points to 21.75%. Concurrently, the Standing Lending Facility Rate (SLFR)  lowered to 23.75%, and the Standing Deposit Facility Rate (SDFR) to 14.25%. These adjustments were approved by the BSL’s Board of Directors on July 28, 2025.



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Sierra Leone Foreign Currency Exchange Rate For October 4, 2024


The Bank of Sierra Leone has on the 4th of October, 2024 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.

In the week from September 30 to October 4, 2024, the US dollar experienced notable gains against both the British pound and the euro, marking a significant shift in the foreign exchange market.



The Central Bank’s disclosed rates are as follows:

Pounds Sterling: Buy at Le 30.2348, Sell at Le 29.9318

U.S. Dollars: Buy at Le 22.7415, Sell at Le 22.5153

Euro: Buy at Le 25.1831, Sell at Le 24.9328

Meanwhile, in the unofficial market, the US dollar settled at Le25 (Buying) and Le24.2 (Selling) on Monday, October 7, 2024. This is according to parallel market operators in Central Freetown and Lungi.

NOTE: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.



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Sierra Leone Foreign Currency Exchange Rate For September 22, 2024


The Bank of Sierra Leone has on the 20th of September released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.

In the week from September 17 to September 20, 2024, the British pound demonstrated a significant rise against both the US dollar and the euro. In contrast, the euro experienced more modest fluctuations. The US dollar showed relative stability during the same period.



The Central Bank’s disclosed rates are as follows:

Pounds Sterling: Buy at Le 30.1914, Sell at Le 29.8887

U.S. Dollars: Buy at Le 22.7003, Sell at Le 22.4744

Euro: Buy at Le 25.3454, Sell at Le 25.0955

Meanwhile, in the unofficial market, the US dollar settled at Le25 (Buying) and Le24.2 (Selling) on Monday, September 22, 2024. This is according to parallel market operators in Central Freetown and Lungi.

NOTE: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.



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Bank of Sierra Leone Issues First Local Currency Corporate Bond


Sierra Leone’s financial sector witnessed a historic moment with the Bank of Sierra Leone approving the country’s first-ever local currency corporate bond on June 12, 2024, as reported by Invest Salone. This milestone paves the way for a more developed capital market in the nation.

United Capital Plc, a prominent pan-African investment banking firm, and Pennarth Greene, a Sierra Leonean corporate finance advisory firm, played a pivotal role in arranging the bond issuance. Support also came from Invest Salone’s PROSPER Salone grant scheme.

The bond, valued at SLE32 million (approximately US$1.4 million), was secured by LAPO Microfinance Company. LAPO, focusing on providing financial services to micro, small, and medium enterprises in Sierra Leone, has a unique characteristic – 99% of its clients are women. The proceeds from the bond will fuel LAPO’s expansion plans, allowing them to strengthen their loan portfolio and establish new branches.



Eshiague Gabriel, LAPO SL’s Managing Director/CEO, hailed the bond issuance, highlighting its significance as a new, cost-effective funding source, free from foreign exchange risks often associated with foreign debt.

Claudius Bart-Williams, CEO of Pennarth Greene, emphasized the creation of a novel long-term funding channel in Sierra Leone. He commended the transparent process, adhering to international standards, that included a prospectus, credit rating assessment, and a trust deed. He noted the strong interest from both local and international investors, recognizing the LAPO bond as a new asset class and a benchmark for corporate bond yields in the country. Bart-Williams also expressed his appreciation for the Bank of Sierra Leone’s guidance in achieving this milestone.

The Africa Local Currency Bond Fund (ALCB Fund), aiming to develop thematic bond markets in Africa, served as the anchor investor. Brock Hoback, Fund Lead at ALCB Fund, expressed his enthusiasm in supporting this historic transaction. He anticipates the bond to stimulate Sierra Leone’s bond market, ultimately providing women from low-income households with access to affordable loans, promoting financial independence and empowerment.

Invest Salone’s Investment Lead, Christina Clark-Lowes, pointed out the bond’s potential to diversify the domestic capital market, attracting a wider range of investors. She addressed the current challenge of limited access to finance for Sierra Leone’s private sector, with many institutions relying heavily on bank overdrafts due to undercapitalization. Corporate bonds, according to Clark-Lowes, offer an attractive alternative, especially for companies seeking long-term financing. The local currency aspect eliminates the risks associated with foreign exchange fluctuations.

Dr. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Plc, highlighted the significance of this transaction in establishing a strong corporate bond framework and fostering the growth of Sierra Leone’s capital market. He reaffirmed United Capital’s commitment to strengthening capital markets across Africa by actively participating in such groundbreaking initiatives.

The approval of this landmark bond issuance is anticipated to attract new international investors to Sierra Leone and provide existing investors with new diversification opportunities. This milestone signifies a positive outlook for the country’s economic future.



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Bank of Sierra Leone Foreign Currency Exchange Rate For December 15, 2023


The Bank of Sierra Leone has on the 15th of December 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



Pounds Sterling: Buy at Le 28.718-0.35, Sell at Le 29.01588-0.35

• U.S. Dollars: Buy at Le 22.531-0.06, Sell at Le 22.7575

• Euro: Buy at Le 24.4891-0.15, Sell at Le 24.7302-0.15

Note: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.



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Bank Governor, Keifala Kallon Defends Decision One Year After Currency Redenomination


In a recent interview on the popular “Good Morning Sierra Leone” program on Radio Democracy 98.1, the Central Bank Governor of Sierra Leone, Prof. Keifala Kallon addressed the redenomination of the Leone, clarifying key points and provided insights into the rationale behind the currency reset.

Prof. Kallon started by denying claims that he had promised the redenomination would raise the exchange value of the Leone. He likened the process to resetting a virus-infected phone, where it starts anew but retains the same value. According to the governor, the redenomination was primarily done to reset the monetary system of the country, rather than to boost the exchange rate.

The governor acknowledged that the redenomination process faced political opposition from the start. He expressed his belief that some individuals worked against its success due to concerns that the government would benefit from it at their expense. He argued that redenomination is a technique used in various countries, particularly during hyperinflation, to encourage responsible spending by reducing the number of currency units.



Prof. Kallon pointed out that some factors, beyond their control, played a significant role in the post-redenomination dynamics of Leones’ exchange rate. He mentioned the U.S. central bank’s monetary policy, which led to an increased demand for the U.S. dollar, causing the dollar to appreciate against the Leone. This, he emphasized, was a key issue that occurred after the redenomination.

The governor explained that the initial plan was to have both the new and old currency coexist for some time before phasing out the old Leone notes. However, the volume of unused old Leone notes returned to the bank exceeded expectations, leading to an extension of the dual currency system. Prof. Kallon argued that the extension was necessary to prevent a crisis similar to the one experienced in Nigeria.

When questioned about the timing of printing new currency, Prof. Kallon admitted that the timing was not ideal. He attributed the decision to print new Leone notes to hoarding of the old currency, which exceeded their estimates. The government resorted to printing new currency due to the overwhelming amount of old Leone notes in circulation.

In response to whether the redenomination strategy had failed, the governor disagreed. He questioned the assertion that redenomination had caused exchange rate depreciation, pointing out that even countries that did not undergo redenomination faced economic challenges. Prof. Kallon emphasized the fundamental economic principle that everything comes at a cost and that various factors influence exchange rates.



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Bank of Sierra Leone Foreign Currency Exchange Rate For October 2, 2023


The Bank of Sierra Leone has on the 2nd of October 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including U.S. dollars, Pounds Sterling, Euros, and Canadian Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



  • Pounds Sterling: Buy at Le 27.1073, Sell at Le 27.3888
  • U.S. Dollars: Buy at Le 22.2410, Sell at Le 22.4646
  • Swiss Franc: Buy at Le 24.3908, Sell at Le 24.6325
  • Euro: Buy at Le 23.5143, Sell at Le 23.7482

The exchange rate for other currencies is available here. 

Meanwhile, in the unofficial market, the US dollar settled at Le25 on Monday, October 2, 2023. This is according to parallel market operators in Central Freetown and Lungi.

As per Hanke’s currency watchlist, the Leone is currently the fifth most depreciated currency globally.





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Bank of Sierra Leone Foreign Currency Exchange Rate For October 2, 2023


The Bank of Sierra Leone has on the 2nd of October 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including U.S. dollars, Pounds Sterling, Euros, and Canadian Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



  • Pounds Sterling: Buy at Le 27.1073, Sell at Le 27.3888
  • U.S. Dollars: Buy at Le 22.2410, Sell at Le 22.4646
  • Swiss Franc: Buy at Le 24.3908, Sell at Le 24.6325
  • Euro: Buy at Le 23.5143, Sell at Le 23.7482

The exchange rate for other currencies is available here. 

Meanwhile, in the unofficial market, the US dollar settled at Le25 on Monday, October 2, 2023. This is according to parallel market operators in Central Freetown and Lungi.

As per Hanke’s currency watchlist, the Leone is currently the fifth most depreciated currency globally.



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