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| T O P I C R E V I E W |
| Momodou |
Posted - 15 May 2015 : 12:36:19
WHEN WILL THE NEW MONEY PREVAIL IN BANK TRANSACTIONS?
Foroyaa: Published on May 14, 2015
 One would have thought that all monies issued by banks to their customers would be new money as Government claims to be phasing out the old currency. Here and there one comes across disputes over the two types of twenty dalasi notes which are in circulation.
The old notes still dominate in cash transactions. The existence of old and new currencies poses a dilemma on the value of the currencies in circulation which could impact on inflationary pressures if they exceed the values of goods and services in the market.
The Central Bank needs to give updates on the percentage of the old currency which has been replaced and put out of circulation. This is the best way of preventing more economic shocks blamed on speculators.
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| 2 L A T E S T R E P L I E S (Newest First) |
| toubab1020 |
Posted - 17 May 2015 : 11:59:37
One must remember that the Gambia is STILL a CASH economy and as such any transition to a bank orientated economy will take a long time to come about especially if you consider that women are the majority of sellers are often unable to read or write,therefore any change must come about very slowly and be managed with great care.
quote:
Originally posted by Momodou
WHEN WILL THE NEW MONEY PREVAIL IN BANK TRANSACTIONS?
Foroyaa: Published on May 14, 2015
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| Momodou |
Posted - 15 May 2015 : 12:49:01
Related Topic: Gambia gets new D20 and D200 notes |
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