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Sierra Leone Officially Adopts Foreign Currencies as Legal Tender Amid Inflation Crisis.


In a significant move aimed at addressing the rampant inflation and weakened local currency, the Bank of Sierra Leone (BSL) has officially declared foreign currencies, including the US dollar, as legal tender in the country.

This decision, approved by the Parliament, allows certain individuals and institutions to pay for goods and services in foreign currencies, dealing a blow to the struggling Leone.

The revealation was made by the Director of Financial Market Department at the Bank of Sierra Leone, Sakone Thomas Boima during an interview on the Radio Democracy 98.1 “Good Morning Salone” program last Friday.

Boima explained that the decision to allow select businesses to utilize foreign currencies was made following the passing of the Bank of Sierra Leone Amendment Act 2023 in April.

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