From the highlands of the Kingdom of Swaziland, Market Beat wishes everyone  in the Gambia a very pleasant good Wednesday morning.

We wish to bring to you your weekly Dalasi Update (DUD) from the beautiful, small, hilly and peaceful Kingdom of Swaziland. The trading figures of the GM Dalasi in relation to other international currencies notably the Pound Sterling, US Dollar and the Euro has left the Dalasi with all to do in order to regain the losses surrendered this week.

The Dalasi registered more losses this week, totaling to 44 as against 16 of last week's. This is an unwelcomed development as it is coming against a week in which the Dalasi performed very well by registering 22 gains as against only 6 gains this week.

In our normal weekly diagnosis, we have collected data supplied by the Central Bank, in order to have a general overview of the banking atmosphere covering all 11 operational banks in our financial hub at present  - with more banks on the periphery about to make a mark in our economy.

Statistically speaking, we are looking at 11 (eleven) international currencies at trading against our Dalasi and a total of 85 figures analysed in the process. Overall, there are 44/85 losses as against 16/85 losses last week; 35/85 non-moving figures as against 47/85 non-moving figures of last week, and 6/85 gains as against 22/85 gains last week. We therefore conclude that the Dalasi has surrendered most of the impressive gains it made last week leaving it with all to do in the weeks that lie ahead, as August rains poise to hit hard on our market and farms.

Non-movers
FIB is the only bank this week to register 100% non-moving figures in all its trading figures, with Trust Bank registering non-moving figures on all currencies except on the Pound Sterling, where it registered a loss.
 
Gains
SCBG, AGIB, ICBG and BSIC are banks that registered few gains in trading this week.

Losses
SCBG, PHB, AGIB, GTB, ICBG, ACCESS, ECOBANK, BSIC and OCEANIC BANK all registered some losses at trading this week.

Mixed picture
All banks, with the exception of Trust  Bank and FIB, registered a mixed picture with some gains, some non-movings and some losses as at trading as at the 28th. July, 2009.

Mind the gap
We bring you The INDICATIVE RATES currency tables as we buy and sell in all our operational commercial banks and MJ Financial Services Foreign Exchange Bureau,  dictated to us by the Central Bank of the Gambia (CBG) as at the 28th. July, 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.