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:
Friday, July 22, 1994 I chose as an index.
1 US Dollar = 9.75000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.10256 US Dollar (USD)
Median price was 9.55000 / 9.75000 (bid/ask).
Minimum price was 9.55000 / 9.75000
Maximum price was 9.55000 / 9.75000
Computed from a sample of 1 price on Friday, July 22, 1994
Rate for next day
FXConverter - 164 Currency Converter Results
Saturday, December 31, 1994
1 US Dollar = 9.80000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.10204 US Dollar (USD)
Median price was 9.60000 / 9.80000 (bid/ask).
Minimum price was 9.60000 / 9.80000
Maximum price was 9.60000 / 9.80000
Computed from a sample of 1 price on Friday, December 16, 1994
Rate for next day
Sunday, December 31, 1995
1 US Dollar = 9.95500 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.10045 US Dollar (USD)
Median price was 9.75000 / 9.95500 (bid/ask).
Minimum price was 9.75000 / 9.95500
Maximum price was 9.75000 / 9.95500
Computed from a sample of 1 price on Saturday, December 30, 1995
Tuesday, December 31, 1996
1 US Dollar = 10.09500 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.09906 US Dollar (USD)
Median price was 10.01750 / 10.09500 (bid/ask).
Minimum price was 10.01750 / 10.09500
Maximum price was 10.01750 / 10.09500
Computed from a sample of 1 price on Friday, December 27, 1996
Wednesday, December 31, 1997
1 US Dollar = 10.55000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.09479 US Dollar (USD)
Median price was 10.38880 / 10.55000 (bid/ask).
Minimum price was 10.38880 / 10.55000
Maximum price was 10.38880 / 10.55000
Computed from a sample of 1 price on Tuesday, December 23, 1997
Thursday, December 31, 1998
1 US Dollar = 11.31000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.08842 US Dollar (USD)
Median price was 11.05000 / 11.31000 (bid/ask).
Minimum price was 11.05000 / 11.31000
Maximum price was 11.05000 / 11.31000
Computed from a sample of 1 price on Tuesday, December 29, 1998
Friday, December 31, 1999
1 US Dollar = 11.90000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.08403 US Dollar (USD)
Median price was 11.25000 / 11.90000 (bid/ask).
Minimum price was 11.25000 / 11.90000
Maximum price was 11.25000 / 11.90000
Sunday, December 31, 2000
1 US Dollar = 15.80000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.06329 US Dollar (USD)
Median price was 15.10000 / 15.80000 (bid/ask).
Minimum price was 14.75000 / 15.80000
Maximum price was 15.10000 / 15.80000
Friday, April 6, 2001
1 US Dollar = 15.45000 Gambian Dalasi
1 Gambian Dalasi (GMD) = 0.06472 US Dollar (USD)
Median price was 15.15000 / 15.45000 (bid/ask).
Minimum price was 15.00000 / 15.45000
Maximum price was 15.15000 / 15.50000
On the eve of the overthrow of the legal
Government of The Gambia, The Gambian Dalasi
rated D9.75 to $1.00. At fiscal year end
December 31, 1994, The Gambian Dalasi rated
D9.80 to $1.00, which represented less than 1 percent increase.
For fiscal year ending December 31, 1995, the
dalasi's value decreased by 15 bututs, which
represented a 2 percent increase compared to index
year 1994. The dalasi's value decreased as of
fiscal year December 31, 1996 by 30 bututs,
which represented a 4 percent increase from
the index year of 1994. For December 31, 1997,
the Dalasi's value against the US Dollar decreased
by 75 bututs from index year closing, which
represented an 8 percent increase. At December
31, 1998, the value of The Gambian Dalasi
decreased by D1.51, representing an increase
of 16 percent. My research revealed that at
December 31, 1999, The Gambian dalasi decreased
in value to The American Dollar at D2.10, which
represented an increase of 22 percent as compared
to index year of 1994. The most terrifying
devaluation was in fiscal year 2000, when The
Gambian Dalasi decreased by D6.00, which
represented an increase of 62 percent as compared
to index year. Finally, The Gambian Dalasi as
of Friday April 6, 2001 reduced in value against
the US Dollar by D5.20, which represented a 58
percent increase as compared to index year 1994,
though The Gambian Dalasi rosed by 35 bututs,
resulting in a slight decrease of 4 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 US Dollar. 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. Dictator yahya
thinks that the tractor politics will pay enough
dividends for him to steal the presidential
elections slated for October 2001.
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 US Dollar
only on one occassion, which was Friday April
6, 2001. In conservative financial reporting,
an accountant would be very careful in attesting
the significance of that increase, since it only
reported a first quarter configuration.
A Gambian civil servant employed as a managing
director making D44,000 has seen his/her purchasing
power decreased by 1% to 62% in terms of the
US Dollar. Please read the following table:
Date Gambian D. Yearly($) Monthly($)
7/22/94 D44,000 $4,512.82 $376.07
12/31/94 44,000 4,489.80 374.15
12/31/95 44,000 4,422.11 368.51
12/31/96 44,000 4,360.75 363.40
12/31/97 44,000 4,170.62 347.55
12/31/98 44,000 3,890.36 324.20
12/31/99 44,000 3,697.48 308.08
12/31/00 44,000 2,784.81 232.07
04/06/01 44,000 2,847.90 237.32
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 $232.07?
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.
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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