DEFINITION of 'GMD'

The ISO 4217 abbreviation for the Gambian dalasi, the official currency of the West African country of Gambia. The Gambian dalasi (GMD) was introduced in 1971 to replace the former national currency - the Gambian pound. The country gained independence from its former British ruler (which brought its currency along with its rule) in 1965.

BREAKING DOWN 'GMD'

The symbol for the currency is "D." Coins are minted in 1, 5, 10, 25 and 50 "bututs" and 1 dalasi denominations. Banknotes are printed in 5, 10, 25, 50 and 100 dalasis denominations.

The currency market, also known as the foreign exchange market, is the largest financial market in the world.

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