Liberians and foreign residents are pondering over the excessive increment of the United States Dollar rate over its Liberian Dollar counterpart as the rate continue to climb to its highest status, a situation that has plunged the ordinary Liberians into more hardship.
As the US Dollars continue to wallop over the local currency, prices of commodities on the Liberian markets are also climbing high as ordinary Liberians who cannot afford to hold the US Dollars are feeling the pinch of this problem.
Speaking to the GNN some business people in Monrovia and its environs are expressing disappointment in the lack of policies by the Central Bank of Liberia (CBL) to rapidly institute measures that would stabilize the issue of the foreign exchange on the market in the country.
Many decried this situation and blamed it on the Liberian Government of being insensitive to the plight of the people, noting that the American dollar has taken over the country’s economy to the extent that the local currency is greatly affected by disparity in the local market.
Some petty traders who spoke to the GNN also questioned authority at the Central Bank of Liberia (CBL) of now doing something about this ugly situation, noting, “These guys only care for themselves because they can afford to get the US Dollars, and careless of we the ordinary people who have no means of US Dollars,” Amos Harris, a Petty Trader speaking on the issue noted.
Currently the rate between the United States Dollar and the Liberian Dollar is US$1 to 115LD in some quarters, while in the city center the rate fluctuates at the pleasure of those who have demand over the United States Dollars, while the common many gets the crux of the issue.