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tapalapa
United Kingdom
202 Posts |
 Posted - 23 Sep 2007 : 19:40:00
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Ok Im taking it easy coz my head hurts- does this mena that 38 Dalasi to the Ģ is a strong Dalasi situation ???
On a practical level If I am importing to Gambia will the customs and excise charges be cheaper ??
I need to go back to school
Tapa |
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snuggels
960 Posts |
Posted - 23 Sep 2007 : 23:07:25
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| Where in Gambia can I get the best exchage rate for my pound sterling? |
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Lily
United Kingdom
422 Posts |
Posted - 23 Sep 2007 : 23:41:34
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Actually - I think the answer to this is that, at the moment, you don't want to be trying to get any dalassi for Ģ sterling snuggles. And I don't think, personally (though I'm not a money expert) that this is a good situation for the average Gambian family. Yes, it's great for money speculators, import businesses and governments - but not for the average person.
I think it will change - prbably within the next month or so.
Tapa - the dalassi apears to be strong. But I don't know for whom ....... |
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Jack
Belgium
384 Posts |
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turk
USA
3356 Posts |
Posted - 24 Sep 2007 : 00:28:23
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The value of dalasi can be determined like following. "Jammeh gets up early in the morning. And say. 'from now on 1 sterling is equal to 25 dalasi'". This is that simple.
tapala
If you are importing a cup of mochachino. Yesterday you would have to pay 50 dalasi to buy sterling to import that, now you have to pay 35. So it is cheaper. Custom charges not cheaper because it is paid in dalasi. The question is whom is going to sell their pounds at that price? No one. Foreign reserves of gambia is not much. Plus with these rates Gambians who live abroad will not want to send money to gambia.
Lily is right. It is good for capitalist criminals but not good for avarage gambians who do not hold the capital. Usually people say strong currency mean import is cheaper which is true but import mafia do not reflect this margin to the prices. They collect the extra money to their fund. This is called tranferring money from people to corporations.
Since gambian economy is controlled by government, not natural forces, a.k.a. 'invisable hand', any decision made will benefit the decision makers (government officials) and their supporters. People usually don't have the benefits. This is just temporary for some speculators make some money. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
Edited by - turk on 24 Sep 2007 11:39:23 |
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jambo
3300 Posts |
Posted - 24 Sep 2007 : 10:48:57
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for those of us sending money we stil lhave to re calculate our budgets which will hit a lot of local gambians who rely on the moeny for rent, taxes, fees, school etc.
is bayba still good to use. |
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leokat
United Kingdom
123 Posts |
Posted - 24 Sep 2007 : 14:38:33
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quote:
Originally posted by jambo
for those of us sending money we still have to re calculate our budgets which will hit a lot of local gambians who rely on the moeny for rent, taxes, fees, school etc.
I send (relatively) small amounts of money in pounds sterling and was shocked when I received a text from my b/friend to tell me that he could only get 38d to the pound for the money I had sent to his mother so she could buy food for Eid.
I myself am on a limited budget and it would be extremely difficult for me to send more.
If the exchange rate does not improve (or even gets worse)into the tourist season it will undoubtedly have a negative effect on tourism.
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Lily
United Kingdom
422 Posts |
Posted - 24 Sep 2007 : 18:56:03
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| babya quoted 35 dalassi to the pound today. Had to transfer money to pay fees and can only think that many families will be receiving a lot less money now! It is a problem all around but I think it's true that it will have to move upwards a little by the start of the season otherwise tourists will not be out and about at all - getting so little for their currency. No one is a winner (well, what I mean is that no average person is a winner!). |
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tapalapa
United Kingdom
202 Posts |
Posted - 24 Sep 2007 : 21:13:04
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Thank u everyone for your explaining this.............
I will try and digest it all.
Tapa |
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kiwi
Sweden
662 Posts |
Posted - 24 Sep 2007 : 23:16:37
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| Donīt send pounds! If you want someone to receive a certain amount of dalasis, you order that amount in dalasis to be paid out and your agency charge you in pounds. |
kiwi |
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jambo
3300 Posts |
Posted - 25 Sep 2007 : 10:32:45
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| kiwi are you saying to work out the money in reverse, but if i need to send 1000.00 dls i should have to pay that amount in pounds, before inflation 1000.00 dls was Ģ20.00 now it is Ģ25.00, anyway you cut it affects my budget |
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Eve
Gambia
344 Posts |
Posted - 25 Sep 2007 : 13:12:14
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[quote]Originally posted by toubab1020
Today I wanted to send some money to Gambia, I checked how much Western Union was giving to the pound when its paid out in Gambia ............
36.6Dalasi to Ģ1 
I know money flutuates but this means that Gambians living in the UK and sending money home will have to pay more of their money just to maintain what they sent before thats not taking into account price increses in Gambia,RESULT everyone is poorer and having hard time.
Yesterday i went to sent money, when i asked how much was the euro to dalasi, he said 1e = D25, i didn't want to sent another, the benginning of the Ramadan, went i was sending it was D30 and now D25, i asked what is going on in the Gambia.
It is also better by sending with Western Union, Don't trust anyone, to give it to take it for you, i will never forget and learn from my mistakes 2. |
gambian |
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jambo
3300 Posts |
Posted - 25 Sep 2007 : 13:16:30
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i will send by Western Union, but what has happened to Bayba |
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kiwi
Sweden
662 Posts |
Posted - 25 Sep 2007 : 13:16:40
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Of course it affects your budget. What I am saying is that if you intend to pay a scool fee of, letīs say 1000 dalasis, you have to see to that 1000 is paid out to your Gambian friend, not 900 or 800 due to the rate, donīt let you Gambian friend take the loss.
But it depens on the situation, if you send a gift, you send what you can afford. |
kiwi |
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jambo
3300 Posts |
Posted - 25 Sep 2007 : 13:35:22
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Kiwi i get what you are saying, i am in a position that no one in Gambia is relying on me, i pay school fees one year ahead and I have not made promises to anyone for this year.
But my point is this, my Gambian friends will loose because i still have to pay 1000,00 dls which will cost more from my budget.
As you say a gift is just that. but this drop has not only affected my financial situation it has affected by mential situation as well because i had planned to travel and now have to re think things. BUT I WILL FIND ANOTHER WAY.
I think the average Gambian will be affected by low raes, especially those in tourism one tour operator has pulled out, the exchange rate is low, somewhere it will effect the economy. |
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