GMD is an acronym that stands for "Gambian Dalasi," and it is the official currency of The Gambia, a West African country. The Gambian Dalasi is divided into 100 bututs. Introduced in 1971, the currency replaced the Gambian pound at a 1:1 exchange rate. It is issued and regulated by the Central Bank of The Gambia, which is responsible for maintaining the country's monetary stability.
The GMD's exchange rate is influenced by various factors, including the country's economic performance, inflation rates, political stability, and global market trends. The currency is primarily used within The Gambia for day-to-day transactions, although it is not widely accepted or traded outside the country.
Banknotes in denominations of 5, 10, 25, 50, and 100 dalasis are commonly used, while coins in circulation include 1, 5, 10, 25, and 50 bututs. The design of the banknotes often features prominent Gambian figures, landmarks, and wildlife, reflecting the country's rich cultural heritage and natural diversity.
As with any currency, the GMD's value can fluctuate against other major currencies, impacting imports, exports, and the overall economy of The Gambia. It is important for individuals and businesses operating within or with connections to The Gambia to stay informed about the exchange rates and market conditions surrounding the Gambian Dalasi.
