DALASI AND BUTUT

with Databank Securities Ltd
The Gambia ’s local currency posted a mixed performance on both the interbank and parallel markets this week. On the interbank market, the local currency was stable against the dollar at D25.85 and moved up by 55 bututs against the Pound at D36.65.

The Dalasi also appreciated by 13 bututs against the pound and was quoted at D33while improving by D5

against the CFA francs to close the week at D252.50. On the parallel market however, the Dalasi was re-rated downwards by 22 bututs and was quoted at D26.17 but gained 42 bututs against the pound to close at D36.58.

Against the Euro and the CFA Francs, the local currency appreciated by 50 bututs but lost D1.25 and was quoted at D33.50 and D260 respectively.

On the international currency market, the US Dollar gained against the British Pound but lost value to the Euro and the Yen. The greenback chalked a 0.70 per cent gain against the pound to close at $1.42 but shaved off 0.79 per cent against the Euro to $1.27 and lost 6.23 per cent of its previously quoted rate against the Yen. The Dollar is currently quoted at $97.85 against the Japanese Yen.


Dalasi Inter-Bank Mid Exchange Rates

USD 25.85

UKP 36.65

Euro 33.00

CFA 252.50

Dalasi Forex Bureau Mid Exchange Rates

USD 26.17

UKP 36.58

Euro 33.50

CFA 260.00



Instruments Move South….

Trading on the money market of the central bank of the Gambia witnessed declines in all traded instruments except for the 91-Day Sukuk- Salami Bill. The Bill remained pegged at 11.13 per cent.

The 91-Day Bill moved south by 20 basis point from a previous quoted level of 11.44 per cent and is currently quoted at 11.24 per cent while the 182-Day Bill slashed 69 basis points off its value was quoted at 12.76 per cent .

The longer end of the market saw a downward revision of 77 basis points in the level of the 1-Year Note. The 1-Year Note was quoted at 14.24 per cent but was quoted at a much higher level of 14.53 per cent a week ago.