Mbalamwezi
JF-Expert Member
- Sep 30, 2007
- 800
- 171
For those who likes reading: pls read this:
Tanzanias shilling headed for the weakest close in 17 years against the dollar as oil companies sought to buy the U.S. currency to pay for imports.
The currency of East Africas second-biggest economy currency depreciated as much as 0.8 percent to 1630.5 per dollar. A close at this level would be the weakest since 1994. It traded 0.3 percent down at 1,622.73 at 2:21 p.m. in Dar es Salaam, the commercial capital.
There is a lot of demand that has come in from the oil sector since morning, Eric Chijoriga, a trader with Absa Group Ltd.s Tanzanian unit, said by phone.
source: Bloomberg
My take: this is one of the factors which in unstable fuel prices in Tanzania, and which we also hate to accept. What are we doing in saving the currency?
Tanzanias shilling headed for the weakest close in 17 years against the dollar as oil companies sought to buy the U.S. currency to pay for imports.
The currency of East Africas second-biggest economy currency depreciated as much as 0.8 percent to 1630.5 per dollar. A close at this level would be the weakest since 1994. It traded 0.3 percent down at 1,622.73 at 2:21 p.m. in Dar es Salaam, the commercial capital.
There is a lot of demand that has come in from the oil sector since morning, Eric Chijoriga, a trader with Absa Group Ltd.s Tanzanian unit, said by phone.
source: Bloomberg
My take: this is one of the factors which in unstable fuel prices in Tanzania, and which we also hate to accept. What are we doing in saving the currency?