Comrades:
According to the currency converter table,
The Gambian Dalasi continues to decline in
value since the overthrow of an elected
Government of The Gambia. Please read the
following excerpts:
INDEX YEAR 1994
FXConverter - 164 Currency Converter Results
Friday, July 22, 1994
1 British Pound = 14.87899 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.06721 British Pound (GBP)
Median price was 14.56853 / 14.87899 (bid/ask).
Estimated price based on daily US dollar rates.
DECEMBER 31, 1994
FXConverter - 164 Currency Converter Results
Saturday, December 31, 1994
1 British Pound = 15.33063 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.06523 British Pound (GBP)
Median price was 15.00960 / 15.33063 (bid/ask).
Estimated price based on daily US dollar rates.
DECEMBER 31, 1995
FXConverter - 164 Currency Converter Results
Sunday, December 31, 1995
1 British Pound = 15.44518 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.06475 British Pound (GBP)
Median price was 15.11347 / 15.44518 (bid/ask).
Estimated price based on daily US dollar rates.
DECEMBER 31, 1996
FXConverter - 164 Currency Converter Results
Tuesday, December 31, 1996
1 British Pound = 17.15948 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.05828 British Pound (GBP)
Median price was 17.01973 / 17.15948 (bid/ask).
Estimated price based on daily US dollar rates
DECEMBER 31, 1997
FXConverter - 164 Currency Converter Results
Wednesday, December 31, 1997
1 British Pound = 17.41278 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.05743 British Pound (GBP)
Median price was 17.13736 / 17.41278 (bid/ask).
Estimated price based on daily US dollar rates.
DECEMBER 31, 1998
FXConverter - 164 Currency Converter Results
Thursday, December 31, 1998
1 British Pound = 18.76895 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.05328 British Pound (GBP)
Median price was 18.32864 / 18.76895 (bid/ask).
Estimated price based on daily US dollar rates.
DECEMBER 31, 1999
FXConverter - 164 Currency Converter Results
Friday, December 31, 1999
1 British Pound = 19.24849 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.05195 British Pound (GBP)
Median price was 18.18585 / 19.24849 (bid/ask).
Estimated price based on daily US dollar rates.
DECEMBER 31, 2000
FXConverter - 164 Currency Converter Results
Sunday, December 31, 2000
1 British Pound = 23.59730 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.04238 British Pound (GBP)
Median price was 22.53977 / 23.59730 (bid/ask).
Estimated price based on daily US dollar rates.
APRIL 10, 2001
1 British Pound = 22.32340
On the eve of the overthrow of the legal
Government of The Gambia, The Gambian Dalasi
rated D14.88.75 to 1.00 Pound Sterling. At fiscal year end December 31, 1994, The Gambian Dalasi rated D15.33 to 1.00 Pound Sterling, which represented 3.02 percent increase.
For fiscal year ending December 31, 1995, the
dalasi's value decreased by 57 bututs, which
represented a 3.98 percent increase compared to index
year 1994. The dalasi's value decreased as of
fiscal year December 31, 1996 by D2.28,
which represented a 15.33 percent increase from
the index year of 1994. For December 31, 1997,
the Dalasi's value against the British Pound decreased
by D2.53 from index year closing, which
represented a 17 percent increase. At December
31, 1998, the value of The Gambian Dalasi
decreased by D3.88, representing an increase
of 26.08 percent. My research revealed that at
December 31, 1999, The Gambian dalasi decreased
in value to The British Pound at D4.37, which
represented an increase of 29.86 percent as compared
to index year of 1994. The most terrifying
devaluation was in fiscal year 2000, when The
Gambian Dalasi decreased by D8.72, which
represented an increase of 58.86 percent as compared
to index year. Finally, The Gambian Dalasi as
of Friday April 10, 2001 reduced in value against
the Pound Sterling by D7.44, which represented a 50
percent increase as compared to index year 1994,
though The Gambian Dalasi rosed by D1.28 ,
resulting in a slight decrease of 8.86 percent as
compared to fiscal year end 2000.
Comrades, I made my research on the basis that
The Gambian Dalasi is decreasing in value against
The British Pound. The Gambia does not export any
major product, and its groundnut trade has been
seriously damaged by the efficient administration
of the military junta. As we speak, the illegal
government of the day owes numerous Gambian
farmers over D3 million. The irony of the whole
thing is that The Gambian dictator is donating
tractors to rural farmers without giving them
resources to plough their crops with. The reason
for these donations is simply politics. The dictator yahya
thinks that the tractor politics will pay enough
dividends for him to steal the presidential
elections slated for October 2001. Another
irresponsibility by The Gambian dictator is his
continuous donation of tens of thousands of Dalasis
to social organizations, the source of which cannot
be substantiated by him. Remember this dictator
had less than D5.00 in his pocket when he overthrew
a popularly elected government. He is apparently
using the funds of The Central Bank as his own.
This irresponsible act is very disturbing.
We in the opposition must provide issues to
debate the so-called appointed agents of
destruction. By endeavoring and researching
we will be able to find enough ammunition to
derail the moron of kaninlai.
Please understand that when a domestic currency
increases in amount against an international
currency, it is said to have decreased in value
because it takes more of that currency to purchase
a single international currency which remains
constant in value. Also a decrease in value
of a domestic currency will result in an increase
in percentage configuration as compared to index
year. It is applicable to use 1994 as a base
year for The Gambia, since a new illegal republic
came into existence. It is also true that valuation
can result in an increase in value for The
Gambian Dalasi when comparing previous and present
fiscal year ends. In my research The Gambian
Dalasi increased in value against the Pound Sterling
only on one occassion, which was Tuesday April
10, 2001. In conservative financial reporting,
an accountant would be very careful in attesting
the significance of that increase. This increase
I will admit is not minimal, but substantial,
though The Gambian Dalasi has lost 50 percent
of its value to the British Pound.
A Gambian civil servant employed as a managing
director making D44,000 has seen his/her purchasing
power decreased by 3.02% to 50% in terms of the
British Pound. Please read the following table:
Date Gambian D. Yearly(B.Pound) Monthly(B.Pound)
7/22/94 D44,000 2,956.99 246.42
12/31/94 44,000 2,870.19 239.18
12/31/95 44,000 2,847.90 237.33
12/31/96 44,000 2,564.10 213.68
12/31/97 44,000 2,527.28 210.61
12/31/98 44,000 2,344.17 195.35
12/31/99 44,000 2,285.71 190.48
12/31/00 44,000 1,864.41 155.37
04/06/01 44,000 1,971.32 164.28
I know some would say but the salary of a managing
director did not stay constant from your index
year to the last reporting period. My answer is
that even if the managing director had a liberal
increase of 10% per annum, which I think is
irresponsible, especially in a non-for-profit
public service sector, the adjustment will be
minimal. It is disturbing that the illegal
government of the day takes pride in developments
when in fact it is engaging in destructive
economic behavior. How can a managing director
live on a monthly salary of 164.28 British
Pound Sterling down from a high of 246.42, which
represented a 50 Percentange decrease.
For a principle dear to any Gambian, this dictator
must go. Moron yahya has enriched himself at
the expense of The Gambian people. It is our
responsibility to regroup and free our country
from a government that has killed, stolen, lied to
its citizens and continues to deny our rights
to political democracy.
My prediction is that with the trend of things
in The Gambian, and The Gambian finance minister's
apparent inflation of budgetary figures, The
Gambian Dalasi will decrease in value as of fiscal
year end December 31, 2001.
As a promise to Brother Sowe, I will be making
a rating of The Gambian Dalasi against the German
Mark in my next illustration.
Naphiyo,
Comrade ML Jassey-Conteh
NB: My mother's last name is Jassey, and thus
I am qualified to use it in my salutation.
I am not using any fake names. I am from
Faraba Banta, Kombo East District. I now
live in Greensboro, North Carolina.
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