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Gambia Money Market News
Tuesday, 10 January 2012 21:34
Yields Start Year On Positive Note(JollofNews) - Yield on all tenors were up at the first auction for year 2012. The 91-day bill was up 61bps to 8.68 per cent; its counter-part the 91-day (s/s) bill moved northwards by 79bps to 9.86 per cent.
The 182-day bill which was quoted at 10.18 per cent at last week’s close, was re-rated upwards this week by 33pbs to 10.51 per cent. The 1-year note was up 64bps to 12.49 per cent. All tenors were under-subscribed.
Dalasi Stable in the Interbank Market
At the week’s close, the value of the Dalasi remained unchanged in the Interbank market. It was quoted art D29.88, D46.70. D40.93 and D295.00 against the Dollar, the Pound Sterling, the Euro and the CFA franc (5000) respectively.
In the Parallel Market, whilst the local currency remained unchanged against the Euro and the CFA franc (5000) at D38.50 and D295.00 respectively, it depreciated by 50bututs against the Dollar to D30.25 and was down 35bututs against the Pound to D47.10.
Courtesy of Databank Security Ltd
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Tax cuts are a key to economic growth along with new business start up schemes and grants. Especially those that favour job creation/youth employment.
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