The Dalasi Update

Mixed highs and low at trading
This week again witnessed a mixed picture as the Dalasi goes trading against major world currencies notably the Pound Sterling and US Dollar to name but a few. The Dalasi managed to consolidate its position in most banks locally making minor gains here and there.

The us dollar
 All banks in the Gambia with the exception of TBL, PHB and FIB all made minor loses against the Dollar as per the Dalasi at trading this week. The markets are therefore saying there is a huge demand in the Dollar as markets continue to improve in the United States. This could also have swung into America’s favour due to President Bush’s decision to place the two major Pension and Housing Scheme Administrators in the US under Federal Government stewardship until things improve.

These two organizations were making year on year massive losses that was eroding public faith in their pensions and killing the US Economy slowly compounded by the wars still going on in Iraq and Afghanistan. Market Beat believes this is a prudent and strategic move by the US administration in times when the US is heavily indebted and unemployment is at a high level there. We believe there could be better solution to their problems and that is "CHANGE AS OFFERED BY OBAMA" and stopping all the "WAR AND WAR MONGERING MADNESS"

Non Movers
TBL, FIB and PHB are the only banks that remained stable as per last week’s trading figures. This means there are no gains or loses with the Dalasi at trading as far as these banks are concerned. Their last week’s figures remained the same as of this week and that is some good news to the health of the Dalasi.

Mixed Picture
AGIB, ACCESS BANK, STB and ECOBANK are all portraying mixed figures, some gains and some loses as the Dalasi goes into trading this week.

BSIC ( Banque Saharienne Pour L’investissement Et Le Commerce)
The BSIC made minor gains in all its currency trading this week against all international currencies except on the US Dollar where it registered some minor loses.

Market Beat has the privilege to bring to you the currency tables as we buy and sell in our major banks as dictated by the Central Bank of the Gambia (CBG) as at the 12th. September 2008, thus: