Gambian Dalasi (GMD)
What Is the Gambian Dalasi (GMD)?
GMD is the condensing for the Gambian system of currency known as the Gambian dalasi. The Gambian dalasi is the official currency of the country of The Republic of Gambia, situated along the shoreline of Western Africa. One delasi is made out of 100 butut. The word dalasi gets from the West African French dala 5-franc coin, which starts from the English "dollar".
As of Aug. 2020, 1 GMD is worth generally U.S. $0.02.
Figuring out the Gambian Dalasi
Presented in 1971, the GMD supplanted the former currency of the Gambian pound. At that point, one pound was equivalent to five dalasi. The currency comes in coin form, otherwise called bututs, and were minted by the Royal Mint. The denomination of bututs are 1, 5, 10, 25, and 50; as well as 1 dalasi coins.
There are likewise banknotes, which were printed by Bradbury Wilkinson and Company, LTD. The banknotes were initially issued in 1, 5, 10, 25, 50 and 100 dalasi. Throughout the long term The Gambia has refreshed the presence of the currency and issued extra denominations of D20 and D200. "D" is the symbol of the GMD.
The committee that administers the currency of The Gambia is called The Gambia Currency Board. It was laid out in 1966 and it supplanted the West African Currency Board. The Central Bank of The Gambia is the current giving bank of the GMD.
For 2019, Gambia saw GDP growth of 5.4% with an inflation rate of 7.1%.
About The Republic of The Gambia
The Gambia is situated on the western bank of Africa, along the Atlantic Ocean. The country is long and narrow, running on one or the other side of the Gambia River. The Gambia is a multiparty republic and is currently lead by a chosen president.
Albeit the Gambia River is a conspicuous part of the country's scene, roughly one-third of Gambians lack access to clean drinking water. The country experiences poor disinfection systems. Thusly, occupants in the region are at an increased risk of contracting a parasitic disease, tuberculosis, and Malaria.
Education in the country is free at a primary level, yet all at once not required. The principal college was not laid out in that frame of mind until 1999. The University of The Gambia turned into the principal college accessible to understudies living in The Gambia. Before 1999, understudies hoping to seek after higher education were forced to go outside of the country to acquire it.
The country was initially colonized by Great Britain in the 19th century. France had colonized the nearby country of Senegal and for a bit the two nations were in converses with join the two countries. This lead to The Gambia being part of the Senegambia confederation from 1982-89. The official language of The Gambia is English.
Features
- The GMD is issued by the Bank of Gambia and floats freely against other world currencies.
- The Gambian dalasi (GMD) is the official currency of the Republic of Gambia.
- The dalasi supplanted the Gambian and West African pound in 1971, at a rate of 5:1 at season of conversion.
