Dalasi & Butut: Dalasi Loses to US Dollar

with Databank Securities Ltd
The Gambian local currency lost ground to the US Dollar on both the interbank and parallel markets this week. On the interbank market, the Dalasi depreciated by 13 bututs and was quoted at D25.88 but gained 50 bututs against the pound to close at D36.75.

The local currency strengthened by D1.37 against the Euro and was quoted at D33.63 but was down by D2.50 against the CFA Francs to close the week at D257.50. On the parallel market, the Dalasi depreciated by 2 bututs against the greenback to close at D26.25 and depreciated by 25 bututs against the Pound to close at D36.75. The Gambian currency also lost 38 bututs against the Euro and depreciated by D1 against the CFA Francs to close the week at D33.88 and D253.50 respectively.

The Dollar recorded losses against the Pound and the Euro but gained against the Yen on the international currency market this week. The US dollar moved south by 4.14 per cent against the pound to close at $1.45 and depreciated against the Euro by 5.15 per cent and was quoted at $1.36. Against the Yen, the dollar appreciated by 3.39 per cent to close this week at $94.79.


91-Day Bill Up
Treasury Instruments traded on the floor of the Central Bank of the Gambia posted mixed performances this week. The 91-Day Bill was quoted at 11.48 per cent following a 3-basis point gain from a previous rate of 11.45 per cent.

However, the 182-Day Bill lost 15 basis points andis currently quoted at 12.62 per cent but was quoted at a higher rate of 12.77 per cent a week ago. The 1-Year Note also dipped by 8 basis points from 14.43 per cent. The Note was quoted at 14.43 per cent last week. The 91-Day Sukuk-Salam Bill was unchanged at 11.26 per cent.

Dalasi Inter-Bank Mid Exchange Rates

USD 25.88
UKP 36.75
Euro 33.63
CFA 257.50

Dalasi Forex Bureau Mid Exchange Rates

USD 26.25
UKP 36.75
Euro 33.88
CFA 253.50

CPI Stays at 7 Per cent…
The Gambia Bureau of Statistics has released the Consumer Price Inflation (CPI) for the month of February 09 at an unchanged rate of 7per cent (y/y). The price pointer was fixed at a previous 7 per cent that was quoted at the end of January 09.