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Dollar inflow from tourism, agriculture keep Tanzanian shilling stable

On Thursday, commercial banks quoted the shilling at 2,234/2,244 to the dollar, unchanged from a week ago.

East African Community (EAC) is re-routing its trajectory line of trade to uplift the economical status of the sub-Saharan Africa.

Tanzania has been on the ride of high waves, going through the storms in the economy and soars high to ensure its business opportunities continue to expand and rise.

This has been catapulted by the change in a number of sectors influencing the country’s currency. Now, the Tanzanian shilling’s outlook remains stable in the near term, helped by dollar inflows from tourism and agriculture sectors and subdued dollar demand from importers.

“Demand for dollars is being matched by supply at the moment, so the outlook for next week is that of continued stability,” NMB bank trader said.

On Thursday, commercial banks quoted the shilling at 2,234/2,244 to the dollar, unchanged from a week ago.

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