Market beat: The dalasi update

As trading closes in Banjul this ending the 25th. September, 2008, the Dalasi is manifesting a very mixed picture. Which way to swing, I do not know as I am equally confused as you may be with these figures just like a child looking into a prism and mentioning all colours that comes her way.


The Ace performers
TBL, PHB and FIB are the only banks giving us stable figures from our last week’s tables. These Banks have registered neither gain nor lose as the Dalasi trades with other major world currencies. ACCESS Bank also joins this league but it did register some loses on its trading on the EURO.

 This is a commendable position to be and credit goes to their respective managements as it fosters stability and continuity in our currency wheeling and dealings. In this volatile arena of currency dealings my motto is “if you cannot improve it do not change it”.
Special mention must be made of PHB as this is their second week running with stable figures and please do keep it up.

Losers this week
Standard Chartered Bank continues to record high figures meaning losing grounds in their trading of the Dalais against major world currencies. The Dalasi is performing poorly as far as the SCB is concerned and the only gains registered within SCB this week at trading is against the US Dollar. The same story goes for Bank BSIC and AGIB which are all saying the Dalasi is doing poorly at trading within their respective banks.

Mixed pictures
The picture is not very clear cut at ECOBANK and GTB which are all making some gains and some losses here and there as per the Dalasi at trading against major world currencies.

Conclusion
We would like to inform the reading public that the figures we analyses here are the indicative rates as dictated to the Central Bank of the Gambia. These figures may and might change as the week wares on. It could also change within the respective banks if and when it suits their interest to buy cheaper and sell cheaper or otherwise. In the same vein we at Market Beat are privileged to bring to you the currency tables as we buy and sell in our major banks as at the 25th. September 2008, thus: