EDITORIAL: Curb use of the dollar to rescue ailing shilling

>The Tanzanian shilling is in very bad shape, so much that some analysts describe it figuratively as a currency that is in its death throes. It is cause for concern for us all, for it pains that while you could have purchased a dollar at around Sh600 in the late 1990s, you have to cough up Sh2,000 today for a single greenback.

TheCitizen

Habari Zinazoendana

10 years ago

TheCitizen

22 Oct

Dollar crunch weakens shilling further

A dollar crunch has seriously depreciated the shilling.While indicative exchange rate by the Bank of Tanzania (BoT) was capped at Sh1,682.99 on Monday, for instance, commercial banks exchanged among themselves by up to Sh1,701 per dollar, the highest since the beginning of the year, the central bank figures show.

 

10 years ago

TheCitizen

13 Feb

Shilling hits record low against dollar

The shilling has tumbled to a record low, with analysts and dealers predicting a freefall that could see the local currency trade at an average of Sh2,000 against the dollar during the campaign period. 

 

10 years ago

TheCitizen

24 Jun

Shilling nears 2,500 mark against dollar

The shilling’s further tumble came as a defiant Finance minister Saada Mkuya told the House that there was nothing the government could do because all major currencies in Africa were in free fall, thanks to the stronger dollar.

 

11 years ago

TheCitizen

08 Jun

Shilling loses against dollar for 9 consecutive weeks

The shilling suffered again this week against the dollar after failing to recover the exchange rate ground it lost for eight consecutive weeks.

 

11 years ago

TheCitizen

04 Feb

Shilling hopes hit a snag as dollar rises

Early January expectations that the shilling would strengthen against the dollar were dashed towards end of the month after demand for the greenback skyrocketed.

 

10 years ago

TheCitizen

14 May

BoT measure to rescue shilling faulted

The intervention in the Inter-bank Foreign Exchange Market (IFEM) by the Bank of Tanzania (BoT) to prop up the shilling is not a panacea, according to a University of Dar es Salaam professor.

 

10 years ago

TheCitizen

01 May

Use forex reserves to rescue free-falling shilling, says Mtei

Arusha. Former Bank of Tanzania (BoT) Governor Edwin Mtei, yesterday advised the central bank to use foreign currency reserves in a bid to prevent the shilling from depreciating further against the greenback.

 

10 years ago

TheCitizen

16 Jul

EDITORIAL: Contain the shilling and manage the cost of living

A sharp rise in the prices of consumer goods ahead of Idd-Ul-Fitr celebrations sends the signal that economic stability has yet to be restored following a significant depreciation of the shilling against the US dollar in the past two months.

 

10 years ago

TheCitizen

13 Aug

EDITORIAL: Why sustaining a stronger shilling is an uphill task

When the outgoing Member of Parliament for Mwibara, Mr Kangi Lugola, displayed cheap imported goods in the National Assembly on June 17, 2015, to show why the shilling fell freely between January and June this year, some may have thought it was an isolated case.

 

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