I'm bit confused here.Last month before Tobaski the Dollar fell to
Dalasi from D34 for $1 to D28 for $1.Currently the exchange rate is
D33 to $1. What is going on?
hous
-----Original Message-----
From: C. Omar Kebbeh <[log in to unmask]>
To: GAMBIA-L <[log in to unmask]>
Sent: Fri, Nov 16, 2012 2:58 pm
Subject: [G_L] AT LAST BABILI MANSA IS LISTENING TO HIS ADVISORS
Govt withdraws move on foreign currency hoardingAfrica » Gambia
Friday, November 16, 2012
The Office of the President has withdrawn moves taken last month on
speculative activities and dollar hoarding it said was meant to
manipulate the dalasi exchange rate.A statement issued by the
presidency yesterday announced that the exchange rate for the dalasi is
market determined, and it would uphold that regime.The presidency said
it has observed that since the last press release on Operation No
Compromise on foreign currency hoarding, the general public and
licensed foreign exchange dealers have been complying
satisfactorily.“As a result, the Office of the President has decided to
withdraw the instructions given earlier on speculative activities and
hoarding meant to manipulate the dalasi exchange rate,” it stated.“The
Office of the President announces for the information of the general
public and licensed foreign exchange dealers that the exchange rate of
the dalasi is market determined and would uphold that regime, but would
at the same time not tolerate any attempt to thwart the swift or smooth
functioning of the foreign exchange market,” the statement added.The
authorized shipment of foreign currency through the banking system, the
presidency noted, shall continue under the guidelines established by
the Central Bank of The Gambia.However, the presidency warned that
anyone found not playing by the rules of transparent market practices
will be dealt with according to law.It said authorities will,
therefore, continue to closely monitor the foreign exchange market to
ensure orderly operation.
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