What is the national currency of Gambia?
Dalasi or Gambian Dalasi is the official currency of the Gambia. The symbol for this currency is GMD and can be written as D. The Gambia currency (Dalasi) is divided into 100 bututs, that is 1 dalasi equals to 100 bututs.
What is the highest denomination of Gambia currency?
D200 note is currently the biggest denomination in the Gambia. Other notes includes D100, D50, D25, D20 ( to replace the D25 note), D10 and D5. The currency also has coins which includes D1, 50b, 25b, 10b, 5b and 1b.
You can see the key features of the new notes from this Central bank guide.
Who determined the Gambia Currency exchange rates?
Exchange rates in the Gambia are determined through the floating rate system. The buyer and seller agrees on the exchange rate, which is further influence by demand and supply.
What are some of the common foreign currencies in the Gambia?
The following international currencies can be easily exchanged in the Gambia:
- US dollars (USD)
- British pound sterling (GBP)
- Euro (EUR)
- CFA (XOF)
- Swedish Krone (SEK)
- Swiss Franc (CHF)
- Canadian Dollar (CAD)
The above first 4 currencies can be found in most banks or exchange bureaus in the city.
Where can one exchange currencies in the Gambia
All commercial banks and exchange bureaus are licensed to deal in foreign exchange business. Most money transfer agents can also do the same. Banks and exchange bureau can be found in the following popular areas:
- Banjul, the capital city
- Senegambia region, hospitality area
- International airport
- Kairaba avenue – This is where you will find most banks and bureaus
- Serrekunda – the busy commercial market
Brief History of Gambia Currency – Dalasi
Gambia was previously using the British Pound and pence as the official currency. Dalasi and butut were introduced in the Gambia financial system in 1970, when the country attained a republican status. The coins were minted by the Royal Mint. The notes of 1, 5, 10 and 25 Dalasi denominated were printed by Bradbury Wilkinson & Co. Ltd. With the royal effigy being replaced by the portrait of H. E. The President of the Republic of the Gambia on both the notes and the coin.
The portraits were later changed to images of a boy, girl, woman and old man. On 25 Feb 2015, Central bank further announced the introduction of new D20 and D200 notes. The redesigned banknotes bear the portrait of the President and are smaller in size than the existing paper-based banknotes.