Monrovia – From the perspective of local forex traders in Liberia, the massive circulation of mutilated banknote is the cause of the depreciation of the Liberian dollar. The high rate, according to small business owners, is making trading very difficult. Central Bank said she printed a lot new money, but we cannot see the new money on the market, only old bank notes flooding the market. Right now, if you go to the Central Bank for one million dollars [Liberian dollars], they will give you the one million in so so old old money [mutilated notes], so where are the new banknotes? AJ Tarr, also a forex trader on 20th Street told FrontPageAfrica that forex traders often run into loses whenever the exchange rate suddenly goes up.

Source: Front Page Africa January 09, 2018 03:00 UTC