Economic expert Dr. Foday Joof blames Gambia's shaky dalasi on massive trade gaps and weak public trust. The country buys over nine-tenths of everything from abroad. People and companies scramble for dollars, euros, and CFA francs to pay foreign sellers. Import bills keep climbing higher each month. The dalasi cannot buy goods from other nations.
The CFA franc beats the dalasi because Gambia trades heavily with Senegal next door. Businesses need more CFA francs for cross-border deals. This demand crushes the dalasi further down. Even Tanji beach market traders dump dalasi for CFA francs. Local money loses respect at home.
Joof says currency value depends on what people believe about it. Citizens lose faith and grab foreign cash...