The Dalasi is stable with 56% Non moving figures
Thursday, February 25, 2010
Market Beat would like to officially unveil BANK PHB as our official sponsors on this column till further notice.
We at the desk @ MARKET BEAT would like to register our sincere appreciation to the Management and Staff of BANK PHB for the foresight and dedication in promoting and fostering corporate partnership and brotherly love in the service delivery and attainment of the lofty ambitions of VISION 2020 by pooling of our expertise and resources for possible synergy in the development of THE GAMBIA, OUR MOTHERLAND , OUR DEAREST. BANK PHB please keep the fire burning and it should not take any person a research into aeronautical science to figure out that we need each other in the road to national development.
Back to the Dalasi and this week for some time now it has been very stable and that is very good for currency dealings in our financial hub. It also has the added advantages of stabilizing the prices of basic food commodities and brings the cost of living to an acceptable level in terms of earning power and capacities. It will also boost the confidence of investors in to committing more capital into The Gambia Economy and Markets. The Dalasi has this week come up with an impressive display of figures that has consolidated our strong hold on stability and I hope the story lives on and on in the weeks and months to come into the heart of 2010.
In statistical terms, there are 32/93 GAINS, 52/93 NON MOVING FIGURES and 9/93 LOSSES and this handsomely translates into 34% GAINS; 56% NMF and 10% LOSSES respectively. In analytical terms we are UP by 4% in respect of GAINS as per last week trading figures. We equally DOWN 1% in terms of NON MOVING FIGURES and UP by 3% in LOSSES. The picture therefore concludes that there is stability in our currency markets with the Dalasi doing very well against major world currencies notably the British Pound Sterling, the American Dollar and the Euro pean EURO respectively.
THE BIG ISSUES THIS WEEK
The Biggest issue this week is the fact that BANK PHB HAS BECOME THE FIRST OFFICIAL SPONSOR OF MARKET BEAT COLUMN an initiative that we are very proud of. Aside that, FIB and TBL are the only banks to register 100% Non Moving Figures at trading in all currencies this week. PHB in summary have registered 7 Non Moving Figures & 2 Gains with no Losses in the 9 currencies that are being traded at the bank.
FIB and TBL are all on 100% Non Moving in all currencies in the currency market this week. Aside that, all the remaining banks have some elements of Non Moving Figures present in their analysis.
All banks prominent of which are SCBG registering 7 GAINS while ECOBANK and OCEANIC BANK each registering 6 GAINS and AGIB posting 5GAINS. However, TBL, FIB and GTB have not registered any GAINS this week as the story goes.
All Banks with the exception of TBL, FIB, BANK PHB, ICBG, ECOBANK and PRIME BANK have registered some losses at trading this week.
All Banks with the subtraction of FIB and TBL have posted pictures loaded with mixed figures in respect of registering some gains, some losses and some non moving figures.
MIND THE GAP
Market Beat would like to bring to you the INDICATIVE RATES currency tables as we buy and sell in all our operational commercial banks as dictated to us by the Central Bank of the Gambia (CBG) as at the 19th. February, 2010. Please note that these figures could be subjected to changes as market forces come into play and at the discretion of the banks hereby mentioned.
Author: Momodou Camara