The Dalasi continues to exhibit a mixed performance against its major trade currencies on both the interbank and parallel markets. On the interbank market this week, the local currency was unchanged at D26.65 against the dollar but was down by 50 bututs against the Pound and was quoted at D43.60.
Against the Euro, the Dalasi depreciated by 5 bututs to close at D38 and was fixed at D282.50 against the CFA Francs. On the parallel market, the Dalasi was stable at D26.88 and depreciated by 37 bututs against the Pound to close the week at D43.50.
The local currency was also stable against the Euro at D38 and posted a D2.50 depreciation against the CFA Francs to close the week at D276.50.
Trading on the international currency market saw the US Dollar lose value against
the Euro and the Pound while strengthening against the Japanese Yen. The greenback was down by 0.05 per cent against the Pound to close at $1.67 and depreciated by 0.03 per cent against the Euro to close the week at $1.46. The US Dollar exchanged hands with the Yen at $91.03 following a gain of 2.71 per cent.
Dalasi Interbank Mid Exchange Rates
Dollar 26.65
Pound 43.60
Euro 38.00
CFA 282.50
Parallel Mid Exchange Rates
Dollar 26.88
Euro 43.50
Euro 38.00
CFA 276.50
Currency Market Updates
Bills Improve: Trading on the floor of the money market of the Central Bank of the Gambia saw improvements in traded instruments except for the 91-Day Sukuk Al-Salam Bill which was fixed at its previous rate of 10.71 per cent.
The 91-Day Bill was up by 7 basis points and was quoted at 10.14 per cent following an undersubscription of 21.52 per cent. The 182-Day Bill also gained 40 basis points from its previously quoted rate 11.40 per cent to close this week at 11.45 per cent. Towards the longer arm of the market, the 1-Year Note climbed up by 83 basis points from 13.23 per cent and was quoted at 14.06 per cent following the end of this week’s auction.
No comments:
Post a Comment