Dalasi & Butut: Dalasi Negates YTD against Greenback

The Dalasi depreciated against the greenback on both the interbank and the parallel markets this week – bringing its Year-to-Date (YTD) return against the dollar to a -1.13 per cent. On the interbank market, the local currency moved south by 30 bututs and was quoted at D26.65 and also depreciated by 50 bututs against the Pound to close at D38.75.

The Gambian currency, however, appreciated by 37 bututs against the Euro to D35.38 but lost 5 bututs to the CFA Francs and was quoted at D262.50. On the parallel market, the Dalasi weakened by 30 bututs against the dollar to D26.38 and lost D1 to the pound to close at D38.

Against the Euro, the local currency gained 10 Bututs but was unchanged against the
CFA Francs, closing the week at D34.70 and D250 respectively. On the international currencies market this week, the dollar was stable against the Japanese Yen but posted gains against the Euro while depreciating against the UK Pound.

The dollar depreciated by 3.4 per cent against the Pound and was quoted at $1.49 but improved by 1.5 per cent against the Euro to close the week at $1.31. The Japanese Yen was stable against the dollar and exchanged hands at $98.59.

Dalasi Inter-Bank Mid Exchange Rates
USD 26.65
UKP 38.75
Euro 35.38
CFA 262.50

Dalasi Forex Bureau Mid Exchange Rates

USD 26.38
UKP 38.00
Euro 34.70
CFA 250.00


91-Day Bill Closes-in on 12 Per Cent…

Instruments traded on the floor of the central bank of the Gambia marked gains following the end of this week’s trading session. The 91-Day Bill improved by 27 basis points from 11.72 per cent and was quoted at 11.99 per cent.

The 182-Day Bill was up by 7 basis points and was quoted at 12.85 per cent. The Bill was quoted at 12.78 per cent a week ago. Toward the longer segment of the money market, the 1-Year Note was quoted at 14.59 per cent after moving up by 14 basis points.

The Note was previously quoted at 14.45 per cent. We anticipate bills to remain pointed northwards on the basis of significant pressures on domestic borrowing –
as deficit financing remains bleak.