Dalasi

The dalasi is the currency of The Gambia. Its ISO 4217 code is GMD, and it is subdivided into 100 bututs. The dalasi was introduced in 1971, replacing the Gambian pound at par, and has since been the country’s official currency.

The currency is issued and regulated by the Central Bank of The Gambia. The bank is responsible for issuing banknotes and coins, maintaining monetary stability, and managing the country’s foreign exchange reserves. In everyday use, Gambian banknotes and coins circulate for all routine transactions, and the dalasi is the legal tender within The Gambia. It is not generally accepted outside the country.

The value of the dalasi is determined in the domestic and international markets, with the Central Bank of The Gambia sometimes intervening in the foreign exchange market to smooth volatility and manage liquidity. The Gambian economy, which relies on sectors such as agriculture, tourism, and services, influences and is influenced by the dalasi’s exchange rate.

As with many currencies, the dalasi has seen various redesigns of banknotes and adjustments in coinage over the years, reflecting changes in security features, production costs, and economic policy. The dalasi remains the foundational unit of money for Gambian residents and businesses, and it plays a central role in the country’s monetary and fiscal system.