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Gambia - Money
The local currency is the Dalasi. 1 Dalasi = 100 bututs. Coins are 1, 5, 10 and 50 Bututs. Notes are 5, 10, 25, 50 and 100 Dalasis. The exchange rate fluctuates.
If you want to check the latest exchange rate...............................CLICK HERE
At August 26, 2004. £1.00 = D52.09. $1.00 = D28.99. These rates were accurate on the date shown, but can change daily.
Money changers are all over the place. Serekunda is not recommended for changing money unless you are experienced in Gambia. It's too busy and too many people are watching your transaction. Bureau de change offers a slightly better rate than the banks. Around the main hotels it's not difficult to find someone to change money but do check the official bank rate first. You are in the land of bartering and money changers generally start below the official rate. Even if you have a regular money changer, keep an eye on the official rate because if it goes up, your changer won't tell you. Cash gets a slightly better rate than travellers cheques, but only slightly. It's not worth the risk of carrying cash for the small amount to be gained.
Again, you have to check the rate at the bank in order to have a starting point to barter. If I get 52.00 Dalasis for £1 at the bank then I would expect to get D52.50 to D53.50 on the street. Changers can be found around the B.B Craft market in Kotu. Around the Senegambia area, Serekunda, Bakau and Cape Point.
If you are offered an exchange rate that is way above any rate in the banks or bureau de change, forget it, this would be nothing more than a ploy for seperating you from your money. Except in a bank or bureau de change, never hand over cash or travellers cheques until you are in possession of your Dalasis.
The major hotels will accept credit cards and at some of them it is possible to get cash, but don't expect a good exchange rate. Before using your credit card, do ask for the exchange rate. It would be wise to discuss this with your credit card provider before going to Gambia. In most other establishments cash is the only thing accepted.
MailCopyright: G Thomasson.