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Money Market News
Sunday, 09 October 2011 23:47
(Jollofnews) - Starting this week, readers of Jollofnews with professional or personal interest in the performance of the Gambian currency and other
economic news would have this space to follow. The weekly column, called Money Market News, would provide latest updates on the exchange rate of the Dalasi as well as keep readers abreast of major economic and financial transactions between Gambia and the outside world.Gambian Money Market Updates
Yield On 1-year Note Drops Below 10 per cent: At this week’s auction, the yield on the 1-year note fell by 17bps to 9.84 per cent. The 91-day (s/s) following the trend of recent weeks shaved 1bps of it’s last week’s quote to 8.14 per cent.
There was however a reversal in the fortunes of the 91-day and the 182-day bills. The yield on the 91-day bill was up 9bps on last week’s close and was quoted at 8.07 per cent, putting it again above the 8 per cent mark. The yield on the 182-day bill also headed north by a whopping 86bps to 9.57 per cen. The 182-day bill was the only tenor undersubscribed at this week’s auction.
Currency Market Updates
Dalasi Depreciates Against the Greenback: At this week’s close, the local currency depreciated against the Dollar in both the Interbank market and the
Parallel Market
In the Interbank market, the Dalasi lost 60bututs against the Dollar and closed at D29.63. It was unchanged against the CFA franc(5000) at D307.50 and firmed against the Pound and the Euro by 40bututs and 68bututs respectively to close at D46.00 and D41.00 respectively.
In the Parallel market, apart from depreciating by 40bututs against the Dollars to close at D29.15, the Dalasi was unchanged at D44.70 to the Pound, D37.90 to the Euro and D295.00 to the CFA franc (5000).
- Dalasi Interbank Mid Exchange Rates
- US Dollar 29.63
- Pound 46.00
- Euro 41.00
- CFA 307.50
- Parallel Mid Exchange Rates
- US Dollar 29.15
- Pound 44.70
- Euro 37.90
- CFA 295.00
Local News
The government of The Gambia through the Ministry of Finance and Economic Affairs has signed with four development partners, major financing agreements totalling US$19.29million to support the country’s development programmes. The partners are; the Saudi Fund for Development, the OPEC FUND for International Development, the Kuwait Fund for Development and the Islamic Development Bank.
Courtesy with Databank Ltd
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Comments
We really have the thank JollofNews.
They are the best crew for the moment among the Gambian online Media !
In the service of SeneGamBissau I remain
Well said and this is were they continue to make a difference. Keep it up guys and let the pen and keyboard continue to burn.
Now many can rely on you before traveling to Kambi Bolong, as they will know how to plan their money during their stay !
We hope that you will keep on updating people at leat every week!
Keep it up, we are all in the service of SeneGamBissau.
God bless you all there at JOLLOF ARENA
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