Gambian dalasi

The dalasi is the currency of the Gambia that was adopted in 1971. It is subdivided into 100 bututs. It replaced the Gambian pound at a rate of 1 pound = 5 dalasis, i.e. 1 dalasi = 0.2 pound = 4 shillings.

The name derives from dala, a nickname of the 5 French West African franc note, which in turn derived from "dollar"[1], while butut is from Wolof butuut, "small thing".[2]

Gambian dalasi
Gambia-billet-monedes
25 dalasi note and coins from 5 bututs to 1 dalasi
ISO 4217
CodeGMD
Denominations
Superunit
 5pound
Subunit
 1/100butut
Pluraldalasis or dalasi
 bututbututs
SymbolD
Banknotes5, 10, 20, 25, 50, 100, 200 dalasis
Coins1, 5, 10, 25, 50 bututs, 1 dalasi
Demographics
User(s) The Gambia
Issuance
Central bankCentral Bank of The Gambia
 Websitewww.cbg.gm
Valuation
Inflation6%
 SourceThe World Factbook, 2013 est.

Coins

Gambia-bututs
5, 10, 25, 50 bututs coins

In 1971, coins in denominations of 1, 5, 10, 25 and 50 bututs and 1 dalasi were introduced. The 1 and 5 bututs were struck in bronze while the 10 bututs were brass and the 25, 50 bututs and 1 dalasi were cupro-nickel. The reverse designs of the three higher denominations were taken from the corresponding denominations of the previous currency (1, 2 and 4 shillings), with the reverse designs for the lower three coins coming from the 6, 1 and 3 pence coins, respectively. All coins of this series depict former president, Sir Dawda Jawara.

New 1 dalasi coins were introduced in 1987, modeled on the 50 pence coin of the United Kingdom. These replaced the larger, round dalasi coins which never saw its widespread use as the lower denominations.

In 1998, a new coin series was introduced, in which the effigy of Dawda Jawara was dropped and replaced with the national coat of arms on the obverses. However, older Jawara era coins still commonly circulate as legal tender. The 1 dalasi coin was also downsized in size and weight, but none of the other coins were changed. Only 25 and 50 bututs and 1 dalasi coins are currently in circulation, they are of the 1998 issue which also included 1, 5 and 10 bututs coins but have since disappeared due to low valuation.

Banknotes

Banknotes currently in circulation are 5, 10, 25, 50, 100, and 200 dalasis. 1 dalasi notes were issued between 1971 and 1987. Current banknotes were first issued on 27 July 1996, then reprinted in 2001. On 27 July 2006, the Central Bank of the Gambia issued a new series of notes with images similar to the preceding issues, but with improvements in the design, paper thickness, and security features. Most noticeably, the old white borders have been removed. Furthermore, the 5 and 10 Dalasis are coated with a special varnish to extend circulation life. Finally, the security features of the 100 Dalasis have been upgraded by the inclusion of a silver foil on the front of the note with the image of 100 embossed into the foil.[3]

A polymer commemorative 20 Dalasis was put into circulation to commemorate 20 years of Yahya Jammeh's regime.

On April 15, 2015, the Central Bank of the Gambia released a new family of banknotes that includes two new denominations, a 20 dalasis note to replace the 25 Dalasis note and a 200 dalasis note, twice the value of the previously highest denomination. All of the notes feature a portrait of the former President of the Gambia, Yahya Jammeh.[4]

In February 2018, a new series of banknotes believed to be a reprinting of the 2006-13 issues, but with a new signature combination, will be released as an interim measure to replace notes with the portrait of former President of the Gambia Yahya Jammeh. The notes bearing his image will be removed from circulation. By the end of 2018, a whole new series, including new security features will be released.[5]

Commemorative banknotes

1978 1 Dalasi - opening of the Central Bank of The Gambia's building in Banjul.

2014 20 Dalasis - 20 Years of Yahya Jammeh's regime.

Gambia-banknotes 0001

Obverse of the 10 and 25 dalasis notes.

Gambia-banknotes 0002

Reverse of the 10 and 25 dalasis notes.

Gambia-banknotes 0004

Obverse of the 5 and 100 dalasis notes.

Gambia-banknotes 0005

Reverse of the 5 and 100 dalasis notes.

Gambia-banknotes 0003

A 50 dalasis note issued by the Central Bank of the Gambia.

Current GMD exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD INR CNY
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD INR CNY
From XE: AUD CAD CHF EUR GBP HKD JPY USD INR CNY
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD INR CNY
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD INR CNY

See also

References

  1. ^ "Definition of DALASI". www.merriam-webster.com.
  2. ^ "Definition of BUTUT". www.merriam-webster.com.
  3. ^ Linzmayer, Owen (2012). "Gambia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  4. ^ Gambia new dalasi note family confirmed BanknoteNews.com. April 26, 2015. Retrieved on 2015-04-27.
  5. ^ "Central Bank to replace Jammeh's face on currency - The Point Newspaper, Banjul, The Gambia". thepoint.gm.

External links

Abdul Hamid Adiamoh

Abdul Hamid Adiamoh is a Nigerian journalist and publisher of Today Newspaper in the Gambia.

Cape Verdean escudo

The escudo (sign: ; ISO 4217: CVE) is the currency of the Republic of Cape Verde.

Amounts are generally written by using the cifrão as the decimal separator, such as 2000 for 20 escudos, or 1.00000 for 1000.

Central Bank of The Gambia

The Central Bank of The Gambia is the central bank of The Gambia. Its name is abbreviated to CBG. The bank is located in Banjul and was established in 1971. Bakary Jammeh is the current Governor.

Currency symbol

A currency symbol is a graphic symbol used as a shorthand for a currency's name, especially in reference to amounts of money.

Although several former currency symbols were rendered obsolete by the adoption of the euro, having a new and unique currency symbol – implementation of which requires the adoption of new Unicode and type formats – has now become a status symbol for international currencies. The European Commission considers the global recognition of the euro sign € part of its success. In 2009, India launched a public competition to replace the ₨ ligature it shared with neighbouring countries. It finalised its new currency symbol, ₹ (₹) on 15 July 2010. It is a blend of the Latin letter 'R' with the Devanagari letter 'र' (ra).

Dawda Jawara

Sir Dawda Kairaba Jawara, GCMG (born 16 May 1924) is a Gambian politician who was a significant national leader of The Gambia, serving as its Prime Minister from 1962 to 1970, and then as its first President from 1970 to 1994.

Jawara was born in Barajally, MacCarthy Island Division, the son of Mamma Fatty and Almami Jawara. He was educated at the Methodist Boys' School in Bathurst and then attended Achimota College in Ghana. He trained as a veterinary surgeon at the University of Glasgow's School of Veterinary Medicine and then completed his training at the University of Liverpool. He returned to The Gambia in 1953 and married Augusta Mahoney, beginning work as a veterinary officer. He decided to enter politics and became secretary of the new People's Progressive Party (PPP) and was elected to the House of Representatives in the 1960 election. He became the leader of the PPP and then the country's first Prime Minister in 1962, only the second ever head of government following Pierre Sarr N'Jie's term as Chief Minister.

Under Jawara, The Gambia gained independence from the United Kingdom in 1965. He remained as Prime Minister and Elizabeth II remained as head of state as Queen of the Gambia. In 1970, The Gambia became a republic, with no monarchy, and Jawara was elected as its first President. The greatest challenge to Jawara's power came in 1981 when an attempted coup d'état took place and soldiers from neighbouring Senegal were forced to intervene, with 400 to 800 deaths reported by the end of the coup attempt. Following the coup attempt, Jawara and Senegalese President Abdou Diouf announced the creation of the Senegambia Confederation, but it collapsed in 1989.

Jawara continued to rule until 1994 when a coup d'état led by Yahya Jammeh seized power. Following this, he went into exile, but returned in 2002, and now lives in retirement in The Gambia. At 94, he is currently the oldest living former Gambian president.

Decimalisation

Decimalisation is the conversion of a measurement system to units related by powers of 10, replacing traditional units that are related in other ways, such as those formed by successive doubling or halving, or by more arbitrary conversion factors. Units of physical measurement, such as length and mass, were decimalised with the introduction of the metric system, which has been adopted by almost all countries with the prominent exception of the United States. Thus a kilometre is 1000 metres, while a mile is 1,760 yards. Electrical units are decimalised worldwide. Common units of time remain undecimalised; although an attempt was made during the French revolution, this proved to be unsuccessful and was quickly abandoned.

While metrication describes the adoption by different countries of a common system of decimalised metric measurements, countries generally have their own currencies. The decimalisation of currencies is the process of converting each country's currency from its previous non-decimal denominations to a decimal system, with one basic unit of currency and one or more sub-units, such that the number of sub-units in one basic unit is a power of 10, most commonly 100). The decimalisation process for individual countries is described below.

The only current non-decimal currencies are the Malagasy ariary (equal to five iraimbilanja) and the Mauritanian ouguiya (equal to five khoums), though in practice the ariary has just one currency unit and no sub-unit because iraimbilanja are no longer minted.

Egyptian pound

The Egyptian pound (Egyptian Arabic: جنيه مصرى‎ Genēh Maṣri [ɡeˈneː(h) ˈmɑsˤɾi]; sign: E£, L.E. ج.م; code: EGP) is the currency of Egypt. It is divided into 100 piastres, or ersh (Egyptian Arabic: قرش‎ [ʔeɾʃ]; plural قروش [ʔʊˈɾuːʃ]), or 1,000 milliemes (Egyptian Arabic: مليم‎ [mælˈliːm]; French: millième).

The Egyptian pound is frequently abbreviated as LE or L.E., which stands for livre égyptienne (French for Egyptian pound). E£ and £E are commonly used on the internet. The name Genēh [ɡeˈneː(h)] is derived from the Guinea coin, which had almost the same value of 100 piastres at the end of the 19th century.

GMD

GMD may refer to:

Ben Slimane Airport, in Morocco

Gambian dalasi, the currency of Gambia

Game (retailer), a British video game retailer

GDP-mannose 4,6-dehydratase

General material designation

General Motors Diesel, a Canadian diesel locomotive manufacturer

Generalmusikdirektor (General music director)

Geoscientific Model Development, a journal

Gesellschaft für Mathematik und Datenverarbeitung (Society for Mathematics and Information technology), now a part of the Fraunhofer Society

The Glam Metal Detectives, a British comedy series

Goldstein Museum of Design of the University of Minnesota

Golm Metabolome Database

Grimsby Docks railway station, in England

Ground-Based Midcourse Defense, part of the United States missile defense system

Guomindang, a major political party in the Republic of China

Maghdi language, spoken in Nigeria

Gambian pound

The Gambian pound was the currency of the Gambia between 1965 and 1971. Gambia used the British West African pound until it issued its own currency on October 5, 1964. In 1971, the dalasi replaced the pound at a rate of 1 pound = 5 dalasis which means 1 dalasi = 4 shillings. One Gambian pound was made up of 20 shillings, each shilling being made up of 12 pence.

Gambia–North Korea relations

The Gambia–North Korea relations refers to the current and historical relationship between the Gambia and the Democratic People's Republic of Korea (DPRK), known as North Korea in the Western World. Hong Son Phy is the accredited ambassador to Banjul.

ISO 4217

ISO 4217 is a standard first published by International Organization for Standardization in 1978, which delineates currency designators, country codes (alpha and numeric), and references to minor units in three tables:

Table A.1 – Current currency & funds code list

Table A.2 – Current funds codes

Table A.3 – List of codes for historic denominations of currencies & fundsThe tables, history and ongoing discussion are maintained by SIX Interbank Clearing on behalf of ISO and the Swiss Association for Standardization.The ISO 4217 code list is used in banking and business globally. In many countries the ISO codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of translated currency names or ambiguous currency symbols. ISO 4217 codes are used on airline tickets and international train tickets to remove any ambiguity about the price.

Index of Gambia-related articles

This page list topics related to the Gambia.

List of central banks of Africa

There are two African currency unions associated with multinational central banks; the West African Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) and the Central African Banque des États de l'Afrique Centrale (BEAC). Members of both currency unions use the CFA Franc as their legal tender.

Below is a list of the central banks and currencies of Africa.

List of circulating currencies

This list contains the 180 currencies recognized as legal tender in United Nations (UN) member states, UN observer states, partially recognized or unrecognized states, and their dependencies. However excluding the pegged (fixed exchange rate) currencies, there are only 130 currencies (which are independent or pegged to a currency basket). Dependencies and unrecognized states are listed here only if another currency is used in their territory that is different from the one of the state that administers them or has jurisdiction over them.

Malawian kwacha

The kwacha (; ISO 4217: MWK, official name Malawi Kwacha) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala. The kwacha replaced other types of currency, namely the UK pound sterling, the South African rand and the Rhodesian dollar, that had previously circulated through the Malawian economy. The exchange rate of the kwacha undergoes fixed periodical adjustments, but since 1994 the exchange rate has floated. In 2005, administrative measures were put in place by Bingu wa Mutharika to peg the exchange rate with other currencies. Banknotes are issued by the Reserve Bank of Malawi. In May 2012, the Reserve Bank of Malawi devalued the kwacha by 34% and unpegged it from the United States dollar.

Marie Saine-Firdaus

Marie Saine-Firdaus (born 1973) is a Gambian lawyer and politician.

Sub-Saharan Africa

Sub-Saharan Africa is, geographically, the area of the continent of Africa that lies south of the Sahara. According to the United Nations, it consists of all African countries that are fully or partially located south of the Sahara. It contrasts with North Africa, whose territories are part of the League of Arab states within the Arab world. The states of Somalia, Djibouti, Comoros and the Arabic speaking Mauritania are however geographically in sub-Saharan Africa, although they are members of the Arab League as well. The UN Development Program lists 46 of Africa’s 54 countries as “sub-Saharan,” excluding Algeria, Djibouti, Egypt, Libya, Morocco, Somalia, Sudan and Tunisia.The Sahel is the transitional zone in between the Sahara and the tropical savanna of the Sudan region and farther south the forest-savanna mosaic of tropical Africa.

Since probably 3500 BCE, the Saharan and sub-Saharan regions of Africa have been separated by the extremely harsh climate of the sparsely populated Sahara, forming an effective barrier interrupted by only the Nile in Sudan, though the Nile was blocked by the river's cataracts. The Sahara pump theory explains how flora and fauna (including Homo sapiens) left Africa to penetrate the Middle East and beyond. African pluvial periods are associated with a Wet Sahara phase, during which larger lakes and more rivers existed.The use of the term has been criticized because it refers to the South only by cartography conventions and projects a connotation of inferiority; a vestige of colonialism, which some say, divided Africa into European terms of homogeneity.

Tables of historical exchange rates to the United States dollar

Listed below is a table of historical exchange rates relative to the U.S. dollar, at present the most widely traded currency in the world. An exchange rate represents the value of one currency in another. An exchange rate between two currencies fluctuates over time. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example, if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.

The magnitude of the numbers in the list does not indicate, by themselves, the strength or weakness of a particular currency. For example, the U.S. dollar could be rebased tomorrow so that 1 new dollar was worth 100 old dollars. Then all the numbers in the table would be multiplied by one hundred, but it does not mean all the world's currencies just got weaker. However, it is useful to look at the variation over time of a particular exchange rate. If the number consistently increases through time, then it is a strong indication that the economy of the country or countries using that currency are in a less robust state than that of the United States (see e.g., the Turkish lira). The exchange rates of advanced economies, such as those of Japan or Hong Kong, against the dollar tend to fluctuate up and down, representing much shorter-term relative economic strengths, rather than move consistently in a particular direction.

The data is taken at varying times of the year or maybe the average for the whole year. Some of the data for the years 1997-2002 refers to the rate on, or close to, January 1 of that year. Some of the data for 2003 refers to rates on May 28 for countries beginning with A-E, and June 2 for countries listed F-Z. Exchange rates can vary considerably even within a year and so current rates may differ markedly from those shown here. Caveat lector.

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