What Is the Gambian Dalasi (GMD)?
GMD is the abbreviation for the Gambian instrument of foreign exchange known as the Gambian dalasi. The Gambian dalasi is the authentic foreign exchange of the country of The Republic of Gambia, situated along the coast of Western Africa. One delasi is composed of 100 butut. The word dalasi derives from the West African French dala 5-franc coin, which originates from the English “greenback”.
As of Aug. 2020, 1 GMD is value roughly U.S. $0.02.
Key Takeaways
- The Gambian dalasi (GMD) is the authentic foreign exchange of the Republic of Gambia.
- The dalasi modified the Gambian and West African pound in 1971, at a price of 5:1 at time of conversion.
- The GMD is issued in the course of the Monetary establishment of Gambia and floats freely in opposition to other world currencies.
Understanding the Gambian Dalasi
Offered in 1971, the GMD modified the former foreign exchange of the Gambian pound. At the time, one pound used to be as soon as an identical to five dalasi. The foreign exchange is to be had in coin form, often referred to as bututs, and have been minted in the course of the Royal Mint. The denomination of bututs are 1, 5, 10, 25, and 50; along with 1 dalasi money.
There are also banknotes, which have been printed thru Bradbury Wilkinson and Company, LTD. The banknotes have been at first issued in 1, 5, 10, 25, 50 and 100 dalasi. Over time The Gambia has up-to-the-minute the illusion of the foreign exchange and issued additional denominations of D20 and D200. “D” is the brand of the GMD.
The committee that oversees the foreign exchange of The Gambia is known as The Gambia the Forex market Board. It used to be as soon as established in 1966 and it modified the West African the Forex market Board. The Central Monetary establishment of The Gambia is the prevailing issuing monetary establishment of the GMD.
For 2019, Gambia spotted GDP expansion of 5.4% with an inflation price of 7.1%.
About The Republic of The Gambia
The Gambia is situated on the western coast of Africa, along the Atlantic Ocean. The country is long and narrow, working on either side of the Gambia River. The Gambia is a multiparty republic and is at the present time lead thru an elected president.
Even if the Gambia River is a outstanding part of the country’s landscape, kind of one-third of Gambians lack get right to use to clean eating water. The country suffers from poor sanitation methods. As such, electorate throughout the house are at an higher chance of contracting a parasitic an an infection, tuberculosis, and Malaria.
Training throughout the country is loose at a primary stage, alternatively no longer required. The principle faculty used to be as soon as no longer established throughout the house until 1999. The Faculty of The Gambia was the principle faculty available to students residing in The Gambia. Faster than 1999, students looking to pursue higher coaching have been harassed to head from side to side outside of the country to procure it.
The country used to be as soon as at first colonized thru Great Britain throughout the 19th century. France had colonized the adjacent country of Senegal and for relatively the two global places have been in talks to unite each and every countries. This lead to The Gambia being part of the Senegambia confederation from 1982-89. The authentic language of The Gambia is English.
