Gambia Money Market News

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Gambia Money Market News

Tuesday, 21 February 2012 04:12

Yield on 91-day exceeds 10 per cent
(JollofNews) – The yield on the benchmark 91-day bill was up a whooping 73bps to 10.14 per cent at this week’s auction. This is the first time since 19th January 2011 that the yield on this tenor has been in the 10% bracket.

We expect to see the yield retreat at next week’s tender. The yield on its counterpart– the 91-day (s/s) bill however remained unchanged at 9.23 per cent. The yield on the 182-day bill was up 15bps to 10.88 per cent, with the yield on the 1-year note being rerated upwards by 19bps from last week’s close to 12.96 per cent. GAMBIA_MONEY_MARKET_NEWS_LOGO

Currency Market Updates
Dollar exchanges for D30.00 in the Interbank Market

In the interbank market, the Dalasi depreciated by 2bututs against the greenback and closed the week at D30.00.

The local currency lost 75bututs against the Pound Sterling and was quoted at D47.25. It however appreciated by 48bututs against the Euro to D40.40 and remained unchanged at D297.50 against the CFA franc (5000).

In the Parallel market, the Dalasi appreciated by 10bututs against the Dollar to D30.85, depreciated by 150bututs against the Pound to D48.38, while remaining unchanged against the Euro at D40.50. It dropped by D10.00 against the CFA franc (5000) to D305.00.
Courtesy of Databank Securities Limited

Comments

+3 #1 2012-02-21 18:34

We must commend the Eurozone for finally acting boldly to support Greece...with 130 billion Euro's

Greece in turn must address the tax break/evasion government... mentality and bring forward a programme of competative economic regeneration.

I remain impressed with the APRC's tax commission and its efforts to tackle corruption.

Though there will no doubt be...some unfortunate casualties.

Very interesting to view the piece on Freedom Newspaper...about Gambia being a tax..generating economy?

Not too sure what this means?