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MADIBA
United Kingdom
1275 Posts |
 Posted - 17 Aug 2007 : 18:16:48
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The Gambian currency(dalasi) has appreciated against major currencies(Pound Sterling and US dollar) recently. This is a good indication that the Gambian economy isn't doing badly after all. I think IMF predicted a growth of 7%.
I hope the Gambian business community will cost their commodities accordingly. They used to blame the price hikes entirely on the value of the dalasi, though we know most of the time its their greed that takes precedence.
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madiss |
Edited by - MADIBA on 17 Aug 2007 22:36:03 |
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tapalapa
United Kingdom
202 Posts |
Posted - 17 Aug 2007 : 18:19:05
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How much is it to the £ sterling at the moment ???
Tapa |
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Santanfara
3460 Posts |
Posted - 17 Aug 2007 : 18:22:14
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| UNCLE MADI ,YOU ARE RIGHT THE DALASIS HAS APPRECIATE .THE exchange rate to the pounds is £1 to D47 and $1 to d35 .but what the comsumars want is the flection on the price of goods which doesn't seems to be happening .it may be an artifial regulation of the supply and demand of money .but the apprecaition has reflected of the price of sugar which came domw about D1.50 per cup .let's see . |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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MADIBA
United Kingdom
1275 Posts |
Posted - 17 Aug 2007 : 18:44:56
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quote:
Originally posted by tapalapa
How much is it to the £ sterling at the moment ???
Tapa
Today its between D46 and D47. Last week between D48 and D49 |
madiss |
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MADIBA
United Kingdom
1275 Posts |
Posted - 17 Aug 2007 : 18:47:33
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| Brother Santa can't put it any better. Lets hope they see the light. Besides am told that gov't has cut down many taxes so the businesses should also show some mercy. As you said its a wait and see situation. |
madiss |
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ylowe
USA
217 Posts |
Posted - 17 Aug 2007 : 22:28:52
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quote:
Originally posted by MADIBA
The Gambian currency(dalasi) has appreciated against major currencies(Pound Sterling and US dollar) recently. This is a good indication that the Gambian eceonomy isn't doing badly after all. I think IMF predicted a growth of 7%.
I hope the Gambian business community will cost their commodities accordingly. They usedto blame the price hikes entirely on value of the dalasi, though we know most of o the time its their greed that takes precedence.
Madiba are right 7% growth rate is not bad afterall. Some asian countries were growing at around 6% and their citizens enjoys a higher standard of living today. According to the rule of 70 with 7 % growth rate we can double of standard of living in ten years.Consistency is what we need.
Prices will eventually go down if there is no monopolies or price fixing cause someone is going to want to sell quick and decrease prices. GOOD NEWS |
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kondorong
Gambia
4380 Posts |
Posted - 17 Aug 2007 : 22:46:23
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i bought cement yesterday but the price has not come down yet. May be in a few months. Thats one good news for the weekend. A reduction in prices will definitely increase purchasing power which will generate revenue and perhaps more employment opportunities forthe unemployed.
Good News for gambia. |
“When I despair, I remember that all through history the way of truth and love have always won. There have been tyrants and murderers, and for a time, they can seem invincible, but in the end, they always fall. Think of it--always.” |
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bantaba
Switzerland
61 Posts |
Posted - 18 Aug 2007 : 05:38:49
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| Konds may I ask you how much did you pay for a bag of cement? |
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gambiabev
United Kingdom
3091 Posts |
Posted - 18 Aug 2007 : 08:27:18
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| I thougth a high growth rate generates inflationary prices? Or have I got my economics wrong? |
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Santanfara
3460 Posts |
Posted - 18 Aug 2007 : 13:35:14
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quote:
Originally posted by gambiabev
I thougth a high growth rate generates inflationary prices? Or have I got my economics wrong?
bev ,how u doing ? what did you have for breakfast ? i would have love to have a pop at the topic but i am just venturing out. may be kamba can say some here about inflation . |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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Jack
Belgium
384 Posts |
Posted - 18 Aug 2007 : 13:41:14
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The worldwide money and stock markets are unstable for the moment because of some crisis in the us.
Wait a few weeks/months and then - maybe - one can tell something about the dalasi.
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brusubi
Netherlands
43 Posts |
Posted - 18 Aug 2007 : 14:51:27
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The dalasi is rising for 3 months now, every month I send money, about 3 months ago I got 3500 dalasis for 100 euro, last wednessday I got 3157 dalasis, that is a considerable difference.
This is very good for the common GAmbian and should have to bring prices down for foodproducts.
I have been told that there is a special support programme which artifically strenghtens the dalasi, but I found no proof of that yet, at least not in the list from Worldbank projects but maybe it is an Ecowas programme? Most times the money rates depend on macro economic figures like industrial and agricultural production figures or trade balance figures, are they a lot better? Also it is possible that the Central banks brings a lot of foreign money like euro and dollar into the market and thus changing the rates, if that is the case here then the Government has listened well to the complaints of rising prices from foodcommodities and other things and really helps the local people now. Do we have a real economist here in the Bantaba who can really explain the apreciation of the dalasi?
roger |
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Karamba
United Kingdom
3820 Posts |
Posted - 19 Aug 2007 : 16:17:19
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Contrary to what we are being made to believe, the Gambian Dalasi is not appreciated by the occasion of this recent drift in exchange rate against the Pound and Dollar. Away from any economic jargons, here is the simple fact about what holds the Dalasi where it is. Of recent, commodity prices are rising (even in the advent of this drift in exchange rates.) Supplies are running out as business people fear loss of profits. There is a case of stagnation in the flow of foreign currency. Taking foreign currency as a commodity, too much of it means supply exceeding demand. What obtains today is that many people with good deposit of Gambian Dalasi are considering to purchase the excess foreign currency with speculation that when the tides turn round, they are able to resell it for higher gains. This makes more sense than keeping the Dalasi idle at a time when the reserve of foreign currency is not economically rotating in fast gainful circulation. The bottom line is that any lowering of the exchange rate that is not helping to push down prices is not a favourable economic situation, especially for the low income and the compact majority of dependents. In short, the Gambian Dalasi is not protecting the economy. Economic performance is not contingent on neat presentation of facts and figures. It is only real when the standards of living advances. For now, there is no indication to imply that Gambians are enjoying a higher standard of living derived from this recent drift in exchange rates. It is therefore risky for anyone to take comfort in situations like this. |
Karamba |
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kondorong
Gambia
4380 Posts |
Posted - 20 Aug 2007 : 18:38:01
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quote:
Originally posted by bantaba
Konds may I ask you how much did you pay for a bag of cement?
It was D300.00 per bag. 2 bags of cement is more than what many civil servants earn in a month. |
“When I despair, I remember that all through history the way of truth and love have always won. There have been tyrants and murderers, and for a time, they can seem invincible, but in the end, they always fall. Think of it--always.” |
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LEMON TIME
Afghanistan
1295 Posts |
Posted - 21 Aug 2007 : 04:45:04
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| D300 for a single bag of cement,that's why house rent is very expensive. |
There is no god but Allah |
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bantaba
Switzerland
61 Posts |
Posted - 21 Aug 2007 : 05:55:26
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| Thanks Konds, I am currently contemplating on the idea to start building my house. Maybe this is the ideal time to do that, who knows perhaps the price of cement will continue to rise. |
Edited by - bantaba on 21 Aug 2007 05:57:02 |
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