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US dollar to Gambian dalasi exchange rate
Find the best USD/GMD exchange rate for 17 Apr 2021.
Refreshing in: 60s | Sun, Apr 18, 12:31AM GMT
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Get the best exchange rate between the US dollar and Gambian dalasi?
To get the best exchange rate between the US dollar and Gambian dalasi you need to be aware of what the mid-market exchange rate is.
When sending money to Gambia, or perhaps making a purchase in the country, online money transfer services are often the most efficient option because:
- Exchange rates are much closer to the mid-market rate when compared to traditional banks
- Transaction is generally processed faster
- Fees are low and competitive
Travelers to Ghana should bring US dollars in cash and exchange currencies once in the country. There are several foreign exchange bureaus in the capital city that’ll gladly accept US dollars for Gambian dalasi.
|Bank notes:||$1, $5, $10, $20, $50, $100|
|Coins:||1c, 5c, 10c, 25c, 50c|
|Bank notes:||5, 10, 20, 25, 50, 100, 200 dalasis|
|Coins:||1, 5, 10, 25, 50 bututs, 1 dalasi|
What affects exchange rates between the US dollar and the Gambian dalasi?
The exchange rate between the Gambian dalasi and the US dollar is currently managed by the Gambian Central Bank and isn’t affected by any external factors. However, a problem for Gambian authorities is that they’re spending huge amounts of foreign currency reserves to maintain the peg.
The central bank would longer be able to maintain the currency peg and could be forced to either devalue the currency or scrap the peg policy altogether if the economic situation in Gambia worsened by any drastic changes in the following:
- Interest rates in either country
- Balance of trade between the two countries
- Employment levels and economic developments in Gambia
- Sharp fluctuations in the value of the US dollar against other major currencies
Send money from USD to GMD
How does the Gambian dalasi trade against the US dollar historically?
Several different peg policies have been in place over the years to try to control the sharp fluctuations in the value of the dalasi compared to the US dollar and other currencies. In 2013, the Gambian government also introduced strict controls on foreign currency exchange, leading to a sharp drop in the value of the dalasi compared to the US dollar.
- Since 2008, the value of the Gambian dalasi has been in continuous decline compared to the US dollar. From a high during the financial crisis in 2008 of about 20 dalasi to 1 dollar, the value quickly dropped to 26 per dollar in the beginning of 2009.
- Between 2009 and 2011, the exchange rate between the dalasi and dollar remained relatively stable at around 26 dalasi per dollar.
- At the end of 2011, a new and long period of decline for the dalasi started when the dalasi moved from a value of about 26 per dollar to almost 45 per dollar in 2014. During these years, the exchange rate of the dalasi was also subject to several government-initiated revaluations.
US Dollar to the Gambian Dalasi for the last 10 days
|Apr 08||Apr 09||Apr 10||Apr 11||Apr 12||Apr 13||Apr 14||Apr 15||Apr 16||Apr 17|
|1 USD =||51.2500 Inverse: 0.0195||51.2500 Inverse: 0.0195||51.2000 Inverse: 0.0195||51.2000 Inverse: 0.0195||51.1000 Inverse: 0.0196||51.0500 Inverse: 0.0196||51.0000 Inverse: 0.0196||51.0500 Inverse: 0.0196||51.0800 Inverse: 0.0196||51.0800 Inverse: 0.0196|
US Dollar to the Gambian Dalasi for the last 10 months
|Jun 2020||Jul 2020||Aug 2020||Sep 2020||Oct 2020||Nov 2020||Dec 2020||Jan 2021||Feb 2021||Mar 2021|
|1 USD =||51.7000 Inverse: 0.0193||51.8000 Inverse: 0.0193||51.8000 Inverse: 0.0193||51.7500 Inverse: 0.0193||51.7500 Inverse: 0.0193||51.7500 Inverse: 0.0193||51.7500 Inverse: 0.0193||51.7000 Inverse: 0.0193||51.4500 Inverse: 0.0194||51.2500 Inverse: 0.0195|
US Dollar to the Gambian Dalasi for the last 10 years
|Apr 2011||Apr 2012||Apr 2013||Apr 2014||Apr 2015||Apr 2016||Apr 2017||Apr 2018||Apr 2019||Apr 2020|
|1 USD =||28.0071 Inverse: 0.0357||30.0225 Inverse: 0.0333||33.2988 Inverse: 0.0300||39.6400 Inverse: 0.0252||42.8794 Inverse: 0.0233||42.6477 Inverse: 0.0234||45.0250 Inverse: 0.0222||47.1500 Inverse: 0.0212||49.5525 Inverse: 0.0202||51.0000 Inverse: 0.0196|
Market rate for common transfer amounts USD to GMD
|US Dollars (USD)||Gambian Dalasi (GMD)|
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