Adrienne Fuller is the head of publishing at Finder. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
US Dollar to Gambian Dalasi Exchange Rate
Refreshing in: 60s | Thu, Sep 19, 06:25AM 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
|Sep 09||Sep 10||Sep 11||Sep 12||Sep 13||Sep 14||Sep 15||Sep 16||Sep 17||Sep 18|
|1 USD =||50.4400 Inverse: 0.0198||50.4575 Inverse: 0.0198||50.4850 Inverse: 0.0198||50.4950 Inverse: 0.0198||50.4750 Inverse: 0.0198||50.4750 Inverse: 0.0198||50.4625 Inverse: 0.0198||50.3900 Inverse: 0.0198||50.4025 Inverse: 0.0198||50.4000 Inverse: 0.0198|
US Dollar to the Gambian Dalasi for the last 10 months
|Nov 2018||Dec 2018||Jan 2019||Feb 2019||Mar 2019||Apr 2019||May 2019||Jun 2019||Jul 2019||Aug 2019|
|1 USD =||49.5000 Inverse: 0.0202||49.5150 Inverse: 0.0202||49.5200 Inverse: 0.0202||49.5500 Inverse: 0.0202||49.6200 Inverse: 0.0202||49.5525 Inverse: 0.0202||49.5500 Inverse: 0.0202||49.6175 Inverse: 0.0202||49.9500 Inverse: 0.0200||50.1050 Inverse: 0.0200|
US Dollar to the Gambian Dalasi for the last 10 years
|Sep 2009||Sep 2010||Sep 2011||Sep 2012||Sep 2013||Sep 2014||Sep 2015||Sep 2016||Sep 2017||Sep 2018|
|1 USD =||26.1981 Inverse: 0.0382||30.0132 Inverse: 0.0333||29.2455 Inverse: 0.0342||32.9253 Inverse: 0.0304||32.4694 Inverse: 0.0308||39.6848 Inverse: 0.0252||39.5414 Inverse: 0.0253||42.5652 Inverse: 0.0235||46.0383 Inverse: 0.0217||48.4750 Inverse: 0.0206|
Market rate for common transfer amounts USD to GMD
|US Dollars (USD)||Gambian Dalasi (GMD)|
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