Liberia: U.S. Rate Swells On Foreign Exchange Market

Since the ascendency of Madam Ellen Jonson Sirleaf in 2006 and up to 2013, her government has been facing some challenges, especially in the financial sector. She is however aware of some of these challenges and has, from time to time, been seeking ways to sole them. Of late, the Liberian dollars has been deprecating against the United States dollars. Some financial experts say some of the reasons are due to the country's inability to export. That a there is more import than export.

The high rate of the US Dollar on the foreign exchange market fluctuates between L$80.00 to L$81.00 for US$1.00 while business people are buying the US Dollar at much higher rate. For example, in some instances, they purchase at L$82.5 to L$83.00 for a single US Dollar on the exchange market.

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