President Pro-Tempore of the Liberian Senate, M. Gbehzongar Findley
Senate Pro-Tempore Urges Action On FX Control
Winnie T. Dixon
MONROVIA, July 5 (LINA) -The President Pro-Tempore of the Liberian Senate, M. Gbehzongar Findley, has underscored the need for the Central Bank of Liberia (CBL) and the Finance Ministry to curtail the depreciation of the Liberian dollar against the United States dollar.
Addressing his monthly press briefing at his Capitol Building office Thursday, Senator Findley observed that if this is not speedily done, the Senate would cite authorities of the two institutions to explain the widening exchange rate.
In May, the Liberian Senate cited CBL Governor Dr. J. Mills Jones, through its Committee on Banking and Currency, to explain the hike in the rate of the U.S dollar versus the Liberian dollar.
The meeting was held behind closed doors.
A week later, the rate dropped from 90 to 85 Liberian dollars to one US greenback.
The exchange rate between the Liberian dollar and U.S dollar is currently fluctuating between 90 and 92 Liberian dollars to one US dollar.