100-dollar-bill-desktop-reAuthorities in the impoverish nation of The Gambia on Thursday reversed its decision of imposing restrictions on the exchange rate of foreign currencies against the dalasi.

The move, according to a statement from the office of the country’s dictator Yahya Jammeh, is necessitated by the current stability of the local currency against major international currencies following an intervention the government.

The statement said the issue was resolved after the government imposed restrictions and conducted a close monitoring of the exchange rate, which came into effect on 5th May, 2015.

The West African nation said it will continue to encourage the public private partnership and continue to create the enabling environment for business operations in the country and economic growth.

Banjul however warned those involved in currency hoarding to desist from the practice, if they do not wish the full force of the law to be unleashed on them, adding “such financial improprieties will undermine endangers the country’s economy.”