The sudden rise of the Guinea Franc is impeding cross-border trade in the commercial city of Ganta, Nimba County. But the sudden climbing of the Guinean Franc has caused most of the petty traders to return to Liberia empty-handed. “The exchange rate was too high today, so I did not buy anything,” said Annie Flomo, a seller in Ganta Market. The inspector’s remarks apparently aggravated the money changers in Guinea, who retaliated by hiking the exchange rate on the Guinean side, causing Liberian traders stranded on the Guinean side of the border. The Liberian Dollar began falling against the the Guinean Franc since mid 2017, when it fell from GF 100,000 for L$1000 to GF 80,000 for L$1,000.

Source: Daily Observer May 03, 2019 02:26 UTC