Barely five days after the huge drop in the LRD/USD exchange rate across the country, the rate is now taking a normal trend, a Daily Observer survey has revealed. Prior to Monday, the exchange rate was L$135 to US$1. Forex bureaus around Monrovia showed the exchange rate well above L$135 to US$1, just days before the State of the Nation Address. According to a Daily Observer survey, the exchange rate dropped due to speculations that the President was going to swiftly intervene by announcing measures that would either stabilize the exchange rate or drop it. According to some business people, the drastic reduction in the exchange rate is good under President Weah, but pointed out that the prices of goods and commodities were still high on the market.

Source: Daily Observer February 08, 2018 02:15 UTC