The Gambia’s Remittance Inflows Climb to $265.5 Million in Second Quarter of 2026

By Makutu Manneh

Private remittance inflows to The Gambia rose sharply in the second quarter of 2026, reaching $265.5 million, up from $219 million during the same period last year, according to the Central Bank of The Gambia.

Buah Saidy, governor of the Central Bank, disclosed the figures during a Monetary Policy Committee briefing at the bank’s headquarters in Banjul.

Saidy said the increase in remittances, together with foreign currency disbursements for development projects, helped bolster 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 increased supply of foreign currency, Saidy said demand remained strong, driven largely by payments for imports of food, fuel, and construction materials.

The Dalasi remained broadly stable during the quarter, according to the governor. Between the end of March and the end of June, the currency depreciated by 0.5 percent against the U.S. dollar, 0.3 percent against the euro, 1.2 percent against the British pound, and 0.1 percent against the CFA franc.

“The Central Bank continues to maintain adequate international reserves, providing an important buffer against external shocks and exchange rate pressures,” Saidy said.

Gross official reserves stood at $563.9 million at the end of July, enough to cover an estimated 4.3 months of prospective imports of goods and services.

Saidy also reported an improvement in the government’s fiscal position during the first half of the year. Preliminary estimates showed that the overall budget deficit, including grants, narrowed to D3.8 billion, or 1.7 percent of gross domestic product, compared with D6.1 billion, or 3.1 percent of GDP, during the same period in 2025.

Excluding grants, the deficit fell to D10.2 billion, or 4.5 percent of GDP, from D12.8 billion, or 6.4 percent of GDP, a year earlier.

The governor attributed the improvement to stronger domestic revenue collection and efforts to contain government spending, citing improvements in tax administration and broader fiscal consolidation measures.