Small Businesses Decry Depreciation of Liberian Dollars Against US Dollars - News Summed Up

Small Businesses Decry Depreciation of Liberian Dollars Against US Dollars


Another situation that has caught the attention of many Liberians is the continuous decline of the Liberian Dollars (LD$) against the United States Dollars (US$). Prior to the October 10 polls, the foreign exchange rate was LD$120 to US$1, something that was already angering many Liberians, especially small business owners and small income earners who use the Liberian Dollars in their everyday transactions. Speaking with FrontPageAfrica, the entrepreneurs lamented that they are running out of businesses owing to the rapid depreciation of the Liberian Dollars against the US dollars and expressed dismayed over the continuous silence of the relevant authorities in the wake of the ensuing situation. "Since most of our suppliers don’t like to hold the Liberian Dollars, we have to change the money to US dollars. " She explained that since she uses Foreign currencies to purchase her goods and sell to consumers largely in Liberian Dollars, she catches hard time in finding the US Dollars.


Source: Front Page Africa November 26, 2017 20:15 UTC



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