Few hours to President George Weah’s State of the Nation Address on Monday, Jan. 29, there appeared to be an sudden, significant drop in the LRD/USD exchange rate. Until Monday, the exchange rate was L$135 to US$1. But the sudden drop in the rate, according to a Daily Observer survey, was due to the speculation that President would have swiftly intervened to announce measures that will have stabilized the exchange rate. Abraham Smith, shoe retailer said “Business is not easy… Three months ago, things were fine but this time no way because of the high exchange rate. My recommendation to the new government is to drop the prices of commodities on the market and reduce the U.S. rate.

Source: Daily Observer January 31, 2018 02:15 UTC