By Sanna Camara
Government of The Gambia has announced its decision to unfreeze the control of domestic foreign exchange market last night.
In a press statement, it said: “The pegging of the dollar exchange rate against the Dalasi is hereby repealed.”
Trading in the foreign exchange market is to be determined by market forces as par The Gambia’s commitment to a flexible exchange rate regime, the release stated.
“The Office of The President urges players in the foreign exchange and other markets to play by the rules and advises traders to eschew the practice of hoarding and undue speculation.
“While reiterating our commitment to free market policies, Government will ensure that players in the market conform to the rules and regulations that govern free markets,” it added.