The figures were disclosed by Central Bank of The Gambia Governor Buah Saidy during a Monetary Policy Committee briefing at the bank’s headquarters in Banjul.
Saidy said the rise in remittances, alongside foreign currency disbursements for development projects, helped strengthen activity in the domestic foreign exchange market during the quarter.
“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. That is equivalent to about D56.9 billion, up from roughly D47.3 billion.
Despite the increased supply of foreign currency, the governor said demand remained high, largely due to payments for imported food, fuel and construction materials.
The Dalasi, however, remained broadly stable during the period. 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.
By the end of July, the country’s gross official reserves stood at US$563.9 million, about D41.4 billion, enough to cover an estimated 4.3 months of imports of goods and services.
Saidy also reported an improvement in the government’s financial position during the first half of 2026.
Preliminary figures showed that the overall budget deficit, including grants, narrowed to D3.8 billion, equivalent to 1.7 percent of gross domestic product, compared with D6.1 billion, or 3.1 percent of GDP, during the same period in 2025.
When grants were excluded, the deficit also fell to D10.2 billion, or 4.5 percent of GDP, from D12.8 billion, or 6.4 percent, a year earlier.
The governor attributed the improvement to stronger domestic revenue collection and efforts to control government spending, including improvements in tax administration and wider measures to bring government finances under control.
