Gambia Money Market News

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Gambia Money Market News

Sunday, 16 October 2011 21:16

(JollofNews) - In this second edition of our newly launched Money Market News; we gives updates on the currency and other markets : Enjoy…………………..
Yields on all tenors headed south at this week’s auction. The yield on the 91-day bill was down by 5bps to 8.02%. Its counterpart the 91-day (s/s) bill also shaved 5bps off last week’s quote and rerated at 8.09%. Dalasi_notes

The yield on the 182-day bill which jumped up by 86bps at last week’s close was down this week by 24bps to 9.33%. The 1-year note was quoted at 9.63%, down 21bps on last week’s quote. The total amount on offer at next week’s is D250million. This is double the amount that was offered at this week’s tender. We expect to see some upward movement in the yields of a couple of tenors.

Currency Market Updates
In the Interbank Market, the Dalasi closed the week unchanged against the Dollar at D29.623 and against the CFA franc (5000) at D307.50. The local currency appreciated by 25bututs against the Pound to D45.75 and was up by 100bututs against the Euro to D40.00.
In the Parallel market, the Dalasi was also unchanged against the Dollar and CFA franc (5000) at D29.15 and D295.00 respectively. The Dalasi however lost 30bututs against the Pound and the same against the Euro and closed at D45.00 and D38.20 respectively.

Dalasi Interbank Mid Exchange Rates

US Dollar 29.63
Pound 45.75
Euro 40.00
CFA 307.50

Parallel Mid Exchange Rates

US Dollar 29.15
Pound 45.00
Euro 38.20
CFA 295.00

Consumer Price Index – August 2011
In August 2011, the overall Consumer Price Index of the Gambia was 134.12, a 0.55% increase over the July overall index. On an annual basis the overall index increased by 4.31% from August 2010 to August 2011. On a month to month basis, ‘Meat’ saw the biggest rise – 1.82%, Followed by ‘Oil and Fats’ – 0.83%.
Courtesy of Databank Ltd