Crude Oil
On the international markets this week we have witness in the history of trading on the markets for crude oil to ever top $140 and even confirm at $150 Dollar per barrel. This is some piece of bad news especially to Third World Economies notably The Gambia where we do not produce/ extract oil. This reverberation may reach our shores later and create some unease in political, social and economic problems for the citizenry. We do hope as we watch the markets closely that the situation does not persist for longer than just a normal market condition of surges and downturns in the demand and supply of commodities. On the same crux, African countries such as Nigeria, Angola will make some gains in increases in oil revenue owing to the price surge in crude oil.

In connection to that, vegetable oil moved higher around the world in response to the Chicago rally, with prices sharply up in China and Malaysia. SOYBEANS AND CORN are also all registering some sharp increases this week as the rains take their tolls around the world and last year's harvest in stores and ready to hit the markets but can stocks last the duration of the rains and with flooding and other natural disasters in China and some parts of Asia then we are therefore expecting higher prices for these basic food items on our respective markets round the world?

Gold traded more than $30 per ounce higher with silver closes on its heels. That is good news to African countries exporting gold and silver into the world markets as that is increase in revenue for the respective countries involved.

Dalasi Update
This week the is poise to go on trading against major international currencies notably the Pound Sterling and US Dollar with some minor grounds surrendered as per our last week's trading figures. However, the losses are too insignificant to make or break anything of substance. The gains that these currencies made against the Dalasi this week are immaterial and I hope the Dalasi bounces back next week.

In that same vein, we look forward to a week of relative calm in trading on the markets and with the Dalasi to continue its impressive performance against the major world currencies. We would like to bring to you the currency markets trading figures as they buy and sell within our major banks as dictated to the Central Bank of the Gambia. The figures are as follows as at the 27th. June 2008.