Buah Saidy, governor of Central Bank of Gambia, has said the dalasi depreciation against CFA is due to goods destined for Gambia being docked at the port of Dakar.

Speaking to reporters in Banjul, Mr Saidy said “the depreciation of the dalasi aganst the CFA is a recent occurrence, and this is because of what is happening in the economy. Some of these are due to attributable rigidity in the Gambian economy.

“The port is a major bottleneck, and then the Gambian authorities are working on that.

“But the reason why I am citing the port is an open secret. Some of the goods destined for The Gambia are landed at the port of Dakar. If they go to clear their goods in Dakar, they need CFA. So, that increase demand for CFA is a factor of the recent depreciation of the dalasi against the CFA.”

“Also, we have most of our goods coming from Senegal especially vegetables and other construction materials. So, the demand for CFA is because of the demand for goods that are coming in,” he added.

Reporting by Adama Makasuba