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. 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).
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.
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