The local currency strengthened against the greenback on both the interbank and the parallel markets this week. On the interbank market, the local currency gained 12 bututs and was quoted at D26.53 and improved by 25 bututs against the Pound to close at D39.
The Dalasi however depreciated by 25 bututs to D35.15 against the Euro while losing ground by 5 bututs to close at D262.50. On the parallel market, the Dalasi appreciated by 50 bututs against the Dollar to D25.88 and was stable at D38 against the Pound. The local currency however depreciated by 40 bututs against the Euro and was down by D7.50 against the CFA Francs and was quoted at D35.10 and D257.50 respectively.
The dollar fell broadly against the Euro and the Pound but strengthened against the Yen on the international currency markets. Analysts said that losses in the dollar were also being driven by investors pulling out of U.S. government debt, which has pushed the 10-year U.S. Treasury yield to its highest level since late November. The dollar was little changed against the yen at 97.62 yen as traders dumped safe-haven positions taken out earlier in the week, when uncertainty over the possible impact
of swine flu had sparked higher risk aversion.
Dalasi Inter-Bank Mid Exchange Rates
USD 26.53
UKP 39.00
Euro 35.15
CFA 262.50
Dalasi Forex Bureau Mid Exchange Rates
USD 25.88
UKP 38.00
Euro 35.10
CFA 257.50
Instruments Gain; S/S Dips
All traded instruments on the money market of the Central Bank of the Gambia marked registered gains except for the Sukuk-Salam Bill which dipped by a basis point from 12.07 per cent to 12.06 per cent.
The 91- Day Bill soared by 32 basis points and was quoted at 12.36 per cent after
being quoted at 12.04 per cent last week. The 182-Day Bill climbed up by 44 basis points from a previously quoted level of 12.96 per cent and was quoted at 13.40 per cent. The longer section of the market witnessed an 8 basis point increase in the 1-Year Note. The Note is currently quoted at 14.68 per cent but was quoted at 14.60 per cent last week.
Thursday 30 April 2009
From where I stand
Over the past weeks, I have been so tight up with other commitments that I haven't got the time to post something online. But while I was busy running up and down trying free myself from these commitments,I received so many phone calls from friends and family members both in the Gambia and abroad, who were worried and unhappy with my online contributions, especially my recent criticisms of State House Imam, Abdoulie Fatty and Yahya Jammeh.
by PK Jarju
So many things were said to me prominent among them was their plea for me to quit journalism, a profession I love and have been practising for nine long years now.
As a soft hearted person, it hurts me so much to see some family members cry their eyes out in fear of the consequences of my criticisms of the brutal and undemocratic regime of Yahya Jammeh. Because of their love for me, they don't want me to become another Deyda Hydara, Chief Manneh or Fatou Jaw Manneh.
They want me to behave like the large majority of Gambians, who despite being dissatisfied with the Jammeh regime prefer to remain silent about the misrule of the regime. They want me to ignore the brutalities and failures of Yahya Jammeh and his regime and do my own things- for my own sake and my young children.
I do appreciate their concerns but did make it clear to them that the way and manner in which Yahya Jammeh is governing the country is very very wrong and unacceptable in any civilise society and that as Gambians, we should not sit and fold our hands and allow him to continue ruining our hopes and aspirations.
We are a talk and do nation and those who can talk must speak out and does who can do must do everything they can to ensure that the principles of democracy and the rule of law, that are clearly spelt out in our noble constitution are adhered to by Yahya Jammeh and his regime.
Yahya Jammeh is transforming our country into his personal estate and is governing us any how he wants without giving a monkey to the laws of our lands. Though we voted him into office, Jammeh has grown bigger than the country and we the electorates.
The APRC regime has failed the Gambian people and instead of accepting its failures and gracefully exiting from the corridors of power, the regime is using its security officers to bully, intimate, torture and even kill people who dare speak out against its shameful misdeeds.
Utter disregard for the rule of law and of democracy have led to a situation of uncertainty. The Gambian people are today more confused by the uncertain direction of the July 22 Revolution- a revolution, which is supposedly guided by President Jammeh in his wisdom and magnanimity as the saviour of the Gambia.
Almost in my everyday communication with Gambians both at home and abroad, their fears can be seen anytime the political situation in the country is mention. While many wants to see changes, political discussions are a no go area. It is not because they don't care or because they are not being directly or indirectly affected by the misrule of the APRC regime. No it is because of fear.
Jammeh is ruling the country with an iron hand. His policy of making the lives of people who are against him as difficult as possible has put so much fear in the hearts and minds of many Gambians. And the more that fear remains in our hearts and making us silent about the deteriorating political situation in our country, the more guilty we are of strengthening dictatorship.
I am not asking all of us to be martyrs or speak out against the government of Yahya Jammeh. No! I don't believe that we all can but the love for our country, our belief in the tenets of democracy and our desire to see a free Gambia, where the rights of the people are respected and the government accountable to the people should force more and more Gambians to speak up.
On my part, I am not seeking martyrdom but exercising my civic and constitutional rights as a Gambian. I have always surrendered myself to Almighty Allah, my creator, your creator-who is in control of my destiny.
I chose to be a critic of the Jammeh regime simply because my conscience cannot allow me to turn a blind eye to the political situation in the country while a man who is 'supposed' to a servant of the people has transformed himself into their master and ruling them contrary to the democratic ideals.
I cannot do other than to speak out against the regime and suffer the consequences. I have been driven to speak out for what I believe is right and try to sensitise the people with the hope of bringing out changes in our political system.
I know that some of my criticisms have upset many but I don't give a toss for I cannot be condemned forever to say nothing and do nothing. I am not the criminal here and will continue to do what I am doing.
The criminal is the administration in Gambia, which is failing to govern the country according to the dictates of the 1997 constitution. Like my mentors at The Independent used to say, we are powerless journalists who uses our pens to fight our cause and not guns.
May Allah bless us all.
by PK Jarju
So many things were said to me prominent among them was their plea for me to quit journalism, a profession I love and have been practising for nine long years now.
As a soft hearted person, it hurts me so much to see some family members cry their eyes out in fear of the consequences of my criticisms of the brutal and undemocratic regime of Yahya Jammeh. Because of their love for me, they don't want me to become another Deyda Hydara, Chief Manneh or Fatou Jaw Manneh.
They want me to behave like the large majority of Gambians, who despite being dissatisfied with the Jammeh regime prefer to remain silent about the misrule of the regime. They want me to ignore the brutalities and failures of Yahya Jammeh and his regime and do my own things- for my own sake and my young children.
I do appreciate their concerns but did make it clear to them that the way and manner in which Yahya Jammeh is governing the country is very very wrong and unacceptable in any civilise society and that as Gambians, we should not sit and fold our hands and allow him to continue ruining our hopes and aspirations.
We are a talk and do nation and those who can talk must speak out and does who can do must do everything they can to ensure that the principles of democracy and the rule of law, that are clearly spelt out in our noble constitution are adhered to by Yahya Jammeh and his regime.
Yahya Jammeh is transforming our country into his personal estate and is governing us any how he wants without giving a monkey to the laws of our lands. Though we voted him into office, Jammeh has grown bigger than the country and we the electorates.
The APRC regime has failed the Gambian people and instead of accepting its failures and gracefully exiting from the corridors of power, the regime is using its security officers to bully, intimate, torture and even kill people who dare speak out against its shameful misdeeds.
Utter disregard for the rule of law and of democracy have led to a situation of uncertainty. The Gambian people are today more confused by the uncertain direction of the July 22 Revolution- a revolution, which is supposedly guided by President Jammeh in his wisdom and magnanimity as the saviour of the Gambia.
Almost in my everyday communication with Gambians both at home and abroad, their fears can be seen anytime the political situation in the country is mention. While many wants to see changes, political discussions are a no go area. It is not because they don't care or because they are not being directly or indirectly affected by the misrule of the APRC regime. No it is because of fear.
Jammeh is ruling the country with an iron hand. His policy of making the lives of people who are against him as difficult as possible has put so much fear in the hearts and minds of many Gambians. And the more that fear remains in our hearts and making us silent about the deteriorating political situation in our country, the more guilty we are of strengthening dictatorship.
I am not asking all of us to be martyrs or speak out against the government of Yahya Jammeh. No! I don't believe that we all can but the love for our country, our belief in the tenets of democracy and our desire to see a free Gambia, where the rights of the people are respected and the government accountable to the people should force more and more Gambians to speak up.
On my part, I am not seeking martyrdom but exercising my civic and constitutional rights as a Gambian. I have always surrendered myself to Almighty Allah, my creator, your creator-who is in control of my destiny.
I chose to be a critic of the Jammeh regime simply because my conscience cannot allow me to turn a blind eye to the political situation in the country while a man who is 'supposed' to a servant of the people has transformed himself into their master and ruling them contrary to the democratic ideals.
I cannot do other than to speak out against the regime and suffer the consequences. I have been driven to speak out for what I believe is right and try to sensitise the people with the hope of bringing out changes in our political system.
I know that some of my criticisms have upset many but I don't give a toss for I cannot be condemned forever to say nothing and do nothing. I am not the criminal here and will continue to do what I am doing.
The criminal is the administration in Gambia, which is failing to govern the country according to the dictates of the 1997 constitution. Like my mentors at The Independent used to say, we are powerless journalists who uses our pens to fight our cause and not guns.
May Allah bless us all.
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