The Dalasi has registered more gains this week than at any other time at trading this year at a record level of 47 gains in all currencies totaling 91 in all banks.

This is massive and it is outstanding thus it is indeed very encouraging taking cognizant of the fact that we are a stone’s throw to the New Year 2010. The Dalasi is manifesting good and great signs that 2010 will be a year of great successes in battling inflation by further registering more impressive gains against other major  world trading currencies. The figures on display this week are indeed very impressive and we must all take credit especially the brains at Central Bank in stabilizing our Darling Dalasi the most important economic and financial tool and instrument in our very survival as a nation state. Long live The Gambia, Long live the Gambian Dalasi and Long live Stability in our Corporate Organisations, Amen!!

The Dalasi has concluded emphatically the good run it established in early September this year, 2009 by turning the last lap of 2009 with good and great gains against major world currencies notably the pound sterling, euro and the us dollar. I am of the opinion that these gains will be translated in further gains in 2010 a year that we hope will cement most of the cracks on the walls of our financial institutions and financial dealings and well being in The Gambia and the world over. With signs of job recovery and job creation in the West, notably the USA and the INFAMOUS ECONOMIC CRUNCH about to part of the not so good chapters of our lives we hope 2010 will be a defining year in terms of stability, recovery and building bridges in our financial shakes and moves.

The big issues this week
SCBG is the only bank and so far for the first bank ever throughout 2009 to register all gains in all currencies as per trading this week. SCBG being a market pioneer and market leader in Gambian banking circles is at its best this week and the trading results it supplied is the best we have seen of any bank in the Gambia this year in terms of gains in a single week.

In the same drive, ECOBANK, OCEANIC and PRIME are equally impressive and have all registered ALL GAINS in all currencies except in two where they are also impressive by registering non-moving figures.

Going by the same drive, BSIC is all GAINS except in one where it is a non mover.
In conclusion on GAINS, AGIB and ACCESS have also joined the league of GAINS this week by registering ALL GAINS in all their trading currencies except in three where it has registered NON MOVING FIGURES.

Non movers
TBL and PHB are the only banks trading in 100% NON MOVING FIGURES as per last two weeks’ trading figures. This is the second week running for these two banks to be in this impressive group and it depicts signs of stability and predictability which is very encouraging.

Losses
ICBG is the only bank to register the only one loss this week. This week’s trading figures are very good with the Dalasi prevailing and there has only been one loss and it was suffered at ICBG on its trading of the Dalasi against the US DOLLAR.

Mind the gap
Market Beat wished 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 18th. December, 2009. 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.