Sierra Leone's central bank announced on Thursday that it would extend the simultaneous circulation of its old and new currencies until the end of March 2023.

The transition period from July 1 to September 30, 2022, during which the new and old leone are legal tender, "is hereby extended to March 31, 2023," the institution said in a statement posted on social networks, without providing any explanation.

President Julius Maada Bio put into circulation at the beginning of July the new coins and banknotes, which have lost three zeros compared to the old ones, with the objective of restoring confidence in a context of high inflation. The cost of goods and services is expected to remain unchanged.