The SLE (leone) is the currency of Sierra Leone. It is subdivided into 100 cents. As of 1 July 2022, the ISO 4217 code is SLE due to a redenomination of the old leone (SLL) at a rate of SLL 1000 to SLE 1. The SLE currency symbol is Le,usually before the amount.
SLE history
The leone was introduced on 4 August 1964. It replaced the British West African pound at a rate of 1 pound = 2 leones (i.e., 1 leone = 10 shillings). When it was introduced, one leone was worth precisely half a pound sterling or US$1.40. The leone was worth more than the U.S. dollar until the 1980s, when the currency started to devalue rapidly. Years of high inflation have caused the value of leone to plummet, and a U.S. dollar became worth thousands of leones starting in the 2000s.
In August 2021, it was announced that a new leone, worth 1000 of the current leones, would be introduced.[3] The new leone was eventually introduced in July 2022. Old leone denominations remain legal tender and continue to circulate.
SLE Coins
With the introduction of the SLE(new leone), coins were re-issued in denominations of 1, 5, 10, 25, and 50 cents.
SLE Banknotes
Redenominated banknotes in the values of 1, 2, 5, 10, and 20 leones were introduced in 2022, the 20 leones being a new denomination and the 1-10 leones notes maintain the themes and designs of their preceding issues of 1,000-10,000 old leone notes.