Dalasi looses ground
The local currency this week, depreciated against all the major currencies on both the Interbank and the Parallel market.
In the Interbank market, the Dalasi was quoted at D26.98 against the Dollar, having shaved 18bututs off the previous week’s price. It lost 53butus and 70bututs against the Pound Sterling and the Euro to end the week at D41.88 and D36.93 respectively.
In the Parallel market, the Dalasi lost 58bututs against the Dollar to D27.33, 50bututs against the Pound to D41.50 and 13bututs against the Euro to D37.13. With main tourist season coming to a close, we expect the Dalasi to continue to be under pressure for the next couple of months.
Dalasi Interbank Mid Exchange Rates
US Dollar 26.98
Pound 41.88
Euro 36.93
CFA 277.50
Parallel Mid Exchange Rates
US Dollar 27.33
Pound 41.50
Euro 37.13
CFA 277.50
Relative calm in the money market
There were very slight movements in the yields of all the instruments on the Money Market. The 91-day bill decreased by 10bps this week to 9.94%; its counter-part the 91-day(s/s) however increased by 6bps to 10.34 per cent. The 182-day bill remained unchanged at 10.97 per cent. The 1-year bill was quoted at 13.03%, up 2bps from last week’s close.
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