The local currency continues to appreciate in the currency markets. In the interbank market, the Dalasi was up by 125bututs against the Dollar, 75bututs against the Pound and was unchanged at D36.00 against the Euro. In the parallel market the Dalasi gained 370bututs against the Dollar.
This was the first reversal in the downward trend in the value of the local currency against the Dollar since the end of May 2010. Also in the parallel market, the Dalasi gained 262bututs against the Pound and 150bututs against the Euro.
Dalasi Interbank Mid Exchange Rates
Dollar 26.50
Pound 41.50
Euro 36.00
CFA 280.00
Parallel Mid Exchange Rates
Dollar 27.63
Pound 42.88
Euro 36.50
CFA 279.00
Yield on 91-day bill up
For the second week running, the yield on the 91-day bill moved northwards. It was up by 13bps to close the week at 9.58%. Its counterpart the 91-day (s/s) bill was however down by 2bps to 10.03%. The 182- day shaved off 1bps to 10.49%. The 182-day bill was massively over-subscribed by 112%. The 1-year note closed the week at 13.03%, up 19bps. The total amount on offer at next week’s auction is approximately a third less than what was offered this week.
