Gambia Currency Guide: Explore with the Gambian dalasi
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in the Gambia with the Gambian dalasi
What's in this Gambia currency guide?
What currency is used in the Gambia?
The official currency of the Gambia (country code: GM) is the Gambian dalasi, with symbol D and currency code GMD.
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Frequently Asked Questions
What currency should I use in the Gambia?
The domestic currency in the Gambia is the Gambian dalasi.
What is the Gambian dalasi currency code and symbol?
The three letter currency code for the Gambian dalasi is GMD — symbol is D.
What doe the Gambian dalasi look like?
Here is an example Gambian dalasi banknote:
Which countries use the Gambian dalasi?
It is the domestic currency in Gambia.
Is the Gambian dalasi a closed currency?
No, the Gambian dalasi is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and GMD?
Here are some popular conversion amounts for USD to GMD (US dollar to Gambian dalasi)*.
*Converted at the current USDGMD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for the Gambia
Using Wise for Gambian dalasi travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Gambian dalasi otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Gambian dalasi cash before departure, you can save money by ordering online. You generally get better rates and can pick up the GMD cash locally or even on travel day at the airport.
Gambia: Travel Guide
The Gambia is a small, West African country located along the banks of the Gambia River. It is known for its diverse culture, vibrant music and dance scene, and beautiful beaches and wildlife.
Tourism is an important industry in The Gambia, with visitors coming to enjoy the warm weather, beautiful beaches, and diverse wildlife. Visitors can also experience The Gambia's rich culture by visiting local markets, museums, and traditional villages.
The country is also known for its bird-watching opportunities, with over 500 species of birds found in the country. The Gambia is also a popular destination for wildlife safari, where visitors can spot crocodiles, monkeys, and various antelopes among other animals.
The Gambia has a rich culture, with a mix of African, European, and Islamic influences. Visitors can experience the local music, dance, and art, and can also learn about the country's history and traditional way of life.
The Gambia also has a relatively low cost of living compared to other countries in the region, and the official language is English, which makes it a popular destination for tourists and expats alike.
However, it's worth noting that The Gambia is a developing country and infrastructure can be limited in some areas. It's also important to be aware of the current security situation and to follow any safety guidelines or advice provided by local authorities.
Overall, The Gambia is a unique destination that offers visitors the opportunity to experience a diverse culture, beautiful beaches and wildlife, and friendly people at a relatively low cost.
USD/GMD Market Data
The below interactive chart displays the USD/GMD change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to the Gambia - Best Rates
To get a good (and fair) exchange rate when sending money to the Gambia you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to the Gambia
When sending money to the Gambia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Gambian dalasi amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted GMD amount will be transfered to the recipient account you specify in the Gambia.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Gambian dalasi deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in the Gambia
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Gambian dalasi currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the GMD exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Gambian dalasi bank account: A local GMD bank account can make it easier for you to manage your finances and pay bills while you are in the Gambia. It may also be more convenient to use a local GMD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in the Gambia. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in the Gambia. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in the Gambia, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in the Gambia.
Doing business in Gambia
Doing business in The Gambia can be challenging, as the country has a relatively small economy and a limited infrastructure. However, there are also opportunities for growth and development in certain sectors.
The Gambia has a relatively low cost of labor, which can be an advantage for businesses looking to invest in the country. However, the country also has a small domestic market, which can limit the potential for growth in certain sectors.
One of the main sectors of The Gambia's economy is agriculture, and there are opportunities for businesses to invest in this sector, particularly in the areas of food processing, packaging, and export.
Tourism is also an important sector in The Gambia, and there are opportunities for businesses to invest in this sector, particularly in the areas of accommodation, food and drink, and tour and travel services.
The Gambia also has a rapidly growing telecommunications sector, and there are opportunities for businesses to invest in this sector, particularly in the areas of mobile phone networks, internet services, and data centers.
The Gambia's government is actively encouraging foreign investment in the country and has put in place a number of policies and incentives to attract businesses. However, it's worth noting that the country's business environment can be challenging, particularly in the areas of bureaucracy, corruption, and a lack of transparency.
It's important to conduct thorough research and seek professional advice before starting a business in The Gambia, also to be familiar with the laws and regulations of the country and to have a good understanding of the local market and business culture.
