Forex trading is legal in Gambia and operates under a liberal regulatory framework overseen by the Central Bank of The Gambia. Section 65 of the CBG Act 2018 assigns the responsibility for the formulation and execution of the exchange rate policy to the CBG, which issues guidelines for regulating the purchase, sale, holding, or transfer of foreign exchange (1). The Gambia has maintained a free-floating exchange rate regime since 1986 following economic liberalization, where the exchange rate of the dalasi is determined freely by supply and demand in the interbank market (1).
The CBG foreign exchange policy is designed to promote a transparent, fair, and liquid foreign exchange market for the conduct and management of orderly foreign exchange business in the domestic financial market. The implementation of the Exchange Control Act was suspended in 1986, resulting essentially in the lifting of all restrictions on current and capital international transactions (1). The government does not notify the WTO Committee on Technical Barriers to Trade of draft laws and regulations before adoption, and the current administration has not interfered with the exchange rate (2).
"The CBG foreign exchange policy is designed to promote a transparent, fair, and liquid foreign exchange market for the conduct and management of an orderly foreign exchange business in the domestic financial market."
In the event of a foreign exchange crisis or misconduct by market participants, the CBG may temporarily restrict the purchase, sale, holding, or transfer of foreign exchange for an initial period not exceeding twelve months (1). Authorized foreign exchange dealers must observe limits on their net holdings of foreign exchange, with amounts exceeding these limits to be offered to the interbank market or sold to the Central Bank. The number of authorized dealers has significantly increased following the establishment of foreign exchange bureaus in April 1990 (1).
Source:
https://www.cbg.gm/downloads-file/148edf2e-943f-11ee-8725-02e599c15748
https://www.state.gov/reports/2025-investment-climate-statements/the-gambia
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
