The Gambia’s local currency was stable against the greenback on the interbank market but gained against the US currency on the parallel market this week. On the interbank market, the local currency was quoted at D26.63 against the dollar but was up by 73 bututs against the UK Pound to close at D43.00 and appreciated by 12 bututs against the Euro to D37.38. Against the CAF Francs, the local currency lost D1 and was quoted at D275.
On the parallel market, the Dalasi appreciated by 12 bututs against the US Dollar to D26.63 but depreciated by 15 bututs against the UK Pound and was quoted at D43.35. the local currency also lost 60 bututs to the Euro to close at D37.30 but posted a 4 bututs appreciation against the CFA Francs to close the week at D274.
Trading on the international currency market the US Dollar was upbeat against the Euro, the Pound and the Yen. The greenback was up by 1.25 per cent against the Pound to $1.60 and appreciated by 2.21 per cent against the Euro. The dollar also exchanged hands against the Japanese Yen at Y92.50 following a gain of 0.22 per cent.
Instruments Post Declines
Treasury instruments traded on the floor of the Central Bank of the Gambia moved southwards this week. The 91-Day Bill dropped 41 basis points from 12.18 per cent and is currently quoted at 11.77 per cent while the 182-Day Bill was also re-rated downwards by 38 basis points from 12.62 per cent and is trading at 12.24 per cent.
Towards the longer-dated arm of the market, the 1-Year Note shaved off 50 basis points. The Note, which was quoted at 14.85 per cent closed this week at 14.35 per cent.
Company News
Skye Gets CBG Nod
Skye Bank Gambia Limited, a subsidiary of Skye Bank (Nigeria) Plc, has been issued a license to conduct business in the Gambia by the Central Bank of the Gambia, according to a press release issued by the Banking Regulator. The license brings to thirteen (13) the number of commercial banks operating in the Gambia.
No comments:
Post a Comment