Yield on 91-day bill unchanged
For the second week running, the yield on the 91-day bill remained unchanged at 9.55%although the bill was over subscribed by 32.42%. Its counterpart the 91-day (s/s) was up by 2bps to 10.01%.
The 182- day bill was quoted at 10.39%, up 6bps. The 1-year note was quoted at 13.04%up 14bps. The recent increase in the Rediscount rate to 15% by the Monetary Policy Committee of The Central Bank of The Gambia was a signal for tighter monetary control and we expect interest rates on all tenures to start creeping northwards.
The total amount on offer at next week’s auction has been more than doubled from this weeks figure of D130million to D300million
Currency Market Updates
The Dalasi remained unchanged against all the major currencies in the Parallel market. The Dalasi was exchanged at D28.75 for the Dollar, D46.00 for the pound sterling and D39.25 for the Euro.
The local currency however experiences mixed movements in the Inter-bank market.It gained 50bututs against the Dollar (D29.50), lost 50bututs and 30bututs against the pound sterling (D46.50) and the Euro (D39.25) respectively. It remained unchanged against the CFA (290.00).
Dalasi Interbank Mid Exchange Rates
Dollar 29.50
Pound 46.50
Euro 39.25
CFA 290.00
Dalsi Parallel Mid Exchange Rates
Dollar 28.75
Pound 46.00
Euro 38.85
CFA 290.00
