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Prince
507 Posts |
 Posted - 30 Nov 2007 : 21:43:53
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the last rates aren't consistent with the central banks'.
http://www.cbg.gm/
Do u have an internet link to the Bureau de Change site? |
"When injustice becomes law, rebellion becomes duty." |
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kondorong
Gambia
4380 Posts |
Posted - 30 Nov 2007 : 22:51:23
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You must be looking at the customs valuation rates. Thats is different from the inter-bank rates which is more reflective of the currency dealings.
The interbank rate section is just below the customs valuation section. The rate for customs evaluation is used to dermine customs and excise fees applicable on imports or re-export trade whilst the inter bank rate is what obtains in the business sector. generally, the customs rates are lower, ofcourse with the purpose of reducing inflation and dampening demand. |
“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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Prince
507 Posts |
Posted - 01 Dec 2007 : 00:13:54
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Kondorong, thanks for elaborating on the customs valuation rates, i appreciate it. I was referring to the exchange rates below: They seem to be astronomically higher than anything I've seen in recent weeks.
My professor told me that when a "benevolent dictator" tries to impose an official exchange rate (as in Zimbabwe) on the market for goods, an "official" shortage occurs. This leads to the creation of a black market with prices(higher or lower than the official prices) for people willing to pay the market prices. I'm just hoping that the Bureau de Change Currency Rates isn't a decent name for the black market!
Bureau de Change Currency Rates as of 30 november 2007
CASH
CURRENCY BUYING SELLING
D D
GBP 52,00 54,00
USD 29,25 30,00
EUR 35,00 39,00
CFA (5000) 250,00 275,00
SKR 375,00 415,00
DKR (100) 465,00 510,00
NKR (100) 410,00 440,00
CAD 20,75 24,00
SFR 21,50 24,00
RYL 7,50 10,00
AUD 20,00 23,00
JPY (100) 25,00 30,00 |
"When injustice becomes law, rebellion becomes duty." |
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kondorong
Gambia
4380 Posts |
Posted - 01 Dec 2007 : 01:30:09
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Could it be that they did not update their rates. The date may change automatically when you visit the site but there is no real update of their entries.
What do i know? Ilike your phrase " a benevolent dictator". That is good sattire |
“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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gambiabev
United Kingdom
3091 Posts |
Posted - 01 Dec 2007 : 22:30:26
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I have just returned from Gambia.
The dls is 40 to the £ in hotels.
42 in outside exchange places.
44 on black market.
But instead of prices going down, prices are rising..so it is a double edged sword. Things are very difficult for local people that rely on sponsor money from uk. They get less dls for the money and then that in turn buys less than it used to. |
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