Private remittance inflows to The Gambia rose significantly in the second quarter of 2026, reaching $265.5 million, compared with $219 million recorded during the same period last year, according to the Central Bank of The Gambia.
Central Bank Governor Buah Saidy disclosed the figures during a Monetary Policy Committee briefing at the bank’s headquarters in Banjul, highlighting the continued importance of remittances to the country’s foreign exchange market and broader economy.
Saidy said the increase in remittance inflows, combined with foreign currency disbursements linked to development projects, contributed to increased activity in the domestic foreign exchange market.
“Aggregate foreign currency purchases and sales increased to US$773.7 million, from US$644.2 million in the first quarter of 2026,” he said.
Despite the stronger supply of foreign currency, the governor said demand remained high, largely due to payments for imported food, fuel and construction materials.
The Dalasi remained relatively stable against major international currencies during the quarter, although it recorded modest declines in value. Between the end of March and the end of June, the currency depreciated by 0.5 percent against the US dollar, 0.3 percent against the euro, 1.2 percent against the British pound and 0.1 percent against the CFA franc.
Saidy said the Central Bank continued to maintain adequate international reserves, providing the country with an important buffer against external shocks and pressures on the exchange rate.
Gross official reserves stood at $563.9 million at the end of July, equivalent to approximately 4.3 months of prospective imports of goods and services.
The governor also reported an improvement in the government’s fiscal position during the first half of 2026.
Preliminary figures showed that the overall budget deficit, including grants, narrowed to D3.8 billion, representing 1.7 percent of GDP, compared with D6.1 billion, or 3.1 percent of GDP, during the corresponding period in 2025.
When grants were excluded, the fiscal deficit also declined, falling to D10.2 billion, or 4.5 percent of GDP, from D12.8 billion, or 6.4 percent of GDP, a year earlier.
Saidy attributed the improvement to stronger domestic revenue mobilisation and measures to control government expenditure. He pointed to improvements in tax administration and broader fiscal consolidation efforts as key factors behind the reduction in the deficit.
The latest figures point to a strengthening of The Gambia’s external position, with robust remittance inflows and improved fiscal performance providing some support to the economy amid continued demand for foreign currency.
