The Central Bank of The Gambia on behalf of the Gambia Government Tuesday issue a 3-year fixed coupon bond. The bond will be denominated in Dalasi and will be issued at
par. The bond shall be issued at a fixed coupon rate of 14.5%p.a. The fixed coupon rate shall carry throughout the term of the security.
The minimum bid will be GMD5.0million in multiples of GMD50,000.00. At the week’s auction, all the tenures with the exception of the 91-day (s/s) were massively over- subscribed. The 91/day bill lost 31bps, the 182/day 38bps and the 1 year note 45bps to close the week at 10.65%, 11.61% and 12.99% respectively.
Dalasi Directionless
The local currency had mixed fortunes on the interbank and parallel markets. Whilst it appreciated on the Interbank market, gaining 105butus against the pound sterling and 167bututs against the Euro, on the Parallel Market, it depreciated against all the major currencies. It lost 17butus against the U.S. Dollar, 38bututs against the Pound Sterling and 20butus against the Euro.
Dalasi Interbank Mid Exchange Rates
Dollar 26.80
Pound 42.45
Euro 36.55
CFA 285.00
Parallel Mid Exchange Rates
Dollar 26.75
Pound 43.63
Euro 39.70
CFA 295.00
