Kimei’s take on the shilling

CRDB Bank managing director Charles Kimei has been shortlisted again for the prestigious “African Banker of Year Award” for 2014.

Wataalamu wa Manunuzi na Ugavi nchini wametakiwa kuimarisha mifumo inayoongoza taaluma hiyo ili kuokoa mamilioni ya fedha za umma zinazopotea kwa kununua bidhaa zisizo na umuhimu kwa idara za Serikali.

  Mkurugenzi Mtendaji wa Benki ya CRDB, Dk. Charles Kimei akizungumza wakati wa ibada maalum iliyofanyika katika Kanisa la KKKT Usharika wa Siha Sango Mkoani Kilimanjaro. Ibada hiyo ilikwenda sambamba na harambee ya kuchangia ujenzi wa kanisa hilo ambapo zaidi ya shs Milioni 100 zilipatikana.















Mchungaji Kiongozi wa Kanisa la Kiijili la Kilutheri Tanzania (KKKT), Cuthbert Temba akiongoza ibada. Waumini wa Kanisa hilo wakiwa katiba ibada.  Katibu Mkuu wa Dayosisi ya Mashariki na Pwani, Goodfrey...

The shilling continued losing against the dollar this week, but the central bank says it has enough hard currency to deal with any threat on the value of the local unit.

Reports that the Tanzanian shilling has been falling against the dollar for nine consecutive weeks is disturbing but not surprising.

>Before July last year, a barrel of oil that is trading at $50 would have cost a local oil importer Sh82, 500 at an exchange rate of 1,650 against the US dollar.  Barely six months later, the same barrel costs a Tanzanian importer Sh93, 000—an extra Sh11, 500—thanks to the tumbling local currency against the US dollar.

Tanzania shilling exchange to US dollar today: 1992 per US dollar.The average decline of Tanzania shilling per day: 20 shillings.

Zambians observed a national day of prayers on Sunday, October 18, as they sought divine intervention to save their currency, the kwacha, from its free-falling spree.

Dodoma. Amid reports that the government has borrowed $800 million (about Sh1.76 trillion) to boost the shilling, an MP yesterday explained in Parliament why the local currency would not recover against the US dollar any time soon.