Sierra Leonean leone
| Sierra Leonean leone | |||
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| ISO 4217 code | SLL |
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| Central bank | Bank of Sierra Leone | ||
| Website | http://www.bsl.gov.sl | ||
| User(s) |  Sierra Leone |
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| Inflation | 11.7% | ||
| Source | The World Factbook, 2007 est. | ||
| Subunit | |||
| 1/100 | cent | ||
| Symbol | Le | ||
| Coins | 10, 50, 100, 500 leones | ||
| Banknotes | 1000, 2000, 5000, 10 000 leones | ||
The leone is the currency of Sierra Leone. It is subdivided into 100 cents. The ISO 4217 code is SLL and the leone is abbreviated as Le placed before the amount.
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[edit] History
The leone was introduced in 1964. It replaced the British West African pound at a rate of 1 pound = 2 leones (i.e., 1 leone = 10 shillings).
For an earlier Sierra Leone currency, see Sierra Leonean dollar.
[edit] Coins
In 1964, coins were introduced in denominations of ½, 1, 5, 10 and 20 cents. All bore the portrait of Sir Milton Margai. In 1972, 50 cents coins were introduced which carried the portrait of Dr . This portrait also appeared on a new, slightly smaller series of coins introduced in 1980 in denominations of ½, 1, 5, 10 and 20 cents. In 1987, octagonal, nickel-bronze 1 leone coins were introduced.
Following a period of high inflation, new coins were introduced in 1996 for 10, 50 and 100 leones. 500 leones coins were introduced in 2004. Of the four coins in circulation, only the 100 leones is available in any quantity. Most shopkeepers and restaurants rarely encounter 500 leones coins.
| 1 leone 1987 | |
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| Coat of arms | Joseph Saidu Momoh |
[edit] Banknotes
In 1964, the Bank of Sierra Leone introduced notes in denominations of 1, 2 and 5 leones. 50 cents notes were added in 1979, followed by 10 leones in 1980 and 20 leones in 1982. 100 leones notes were introduced in 1988, followed by 500 leones in 1991, 1000 and 5000 leones in 1993, 2000 leones in the year 2000 and 10,000 Leone in 2004.
Prior to June 2010, bank notes in circulation were 500, 1000, 2000, 5000 and 10,000 leones. 10,000 leones notes were in circulation for less than ten years and were infrequently encountered. This meant that most transactions took place in bundles of 5000 leones notes.
In June 2010, the Bank of Sierra Leone issued new notes which were slightly smaller in size than the earlier series and intended to be more secure and durable. The new bank notes are: Le10,000, Le5,000, Le2,000 and Le1,000. Coins are still used, but because of their low value are less common.
Because of inflation, a 20,000 leone banknote has been suggested.
[edit] Specimen notes
Specimen notes are issued to banks to familiarize the local inhabitants with any currency changes. These are issued by Thomas De La Rue of the UK.
| Current SLL exchange rates | |
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| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OzForex: | AUD CAD CHF EUR GBP HKD JPY USD |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
[edit] See also
[edit] References
- Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
[edit] External links
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