Currency crises: Are we heading the Russian way?

[Lusungo]

Bunch of Incompetent scholars! They only thing the are good at is stealing.

Tumia tu kiswahili tu kijana kimombo kitakutoa nishai....

 

[murumbasi]

BOT Governor is Professor Benno Ndulu the renowned Economist whereas the Tanzanian currency has depreciated at alarming rate. Mr. Governor please take action like your counterparts in Kenya and uganda.

 

[Kagalala]

If the man we trusted to safeguard the interest of our country including the currency dares to call our currency Hela ya Madafu meaning the lowest valuable currency what do we expect.
If the leaders of the country quote the values of their belongings in foreign currency ($) what do we expect?
If we allow people to trade in US$ in our streets and we see them as gods what do we expect?
Tanzania under the current system is a JOKE.

 

[Fx Trader]

Professor Ndulu maybe a renowned economist but he has failed to stabilize the currency. He made the same mistake in 2011; at the height of the currency crises. Remember the depreciation from 1530 to 1850? in the space of 4 months; if no immediate action is taken we are heading in the same direction.

 

[kijani11]

How do I capitalize on this ?

 

[NSHOMA FRANCOUS]

hivi yule professor anafanya nini pale BOT?

Tanzania tuna wachumi wachumia tumbo,wanasiasa wanaofikiri kwa kutumia matumbo (sio brain),tunakoelekea Mungu anajua.....

 

[Consultant]

Bei ya leo imefikia TzS. 1,825/- kwa dollar !!!

Hii hatari sana aisee. Ndo wonder leo CRDB nimeshangaa sana nilipofanya transfer wamenipa rate ya 1,735. Tunakoelekea si pazuri. I hope those guys pale BOT wanaidea ya nini cha kufanya

 

[Fx Trader]

Hatari Sana! I hope these guys to their senses! we are in a crises! accept it!

 

[Dina]

well if you follow the news carefully. Kenya and Uganda have sold dollars in the market. Since they are net importers like us they know that a rapidly depreciating currency is bad for the economy in terms of inflation etc. A gradual depreciation is not a bad thing because it can make our exports competitive. However, a rapid depreciation leads is negative for any economy because it can lead to financial instability (deposits being converted into hard currency).


Historically, we know that Bank of Tanzania is always reactive rather than proactive

Export yetu inakidhi kweli kubalansisha hiyo equation? Mie nahisi kama tulijiloga zaidi tulipogomea uchumi wa viwanda...

 

[Fx Trader]

we need to export value added goods in the long term. But in the short term, we central bank as per their mandate is to support the market like our friends in Kenya and Uganda do. A gradual depreciation is warranted (4% annually as prescribed by the IMF).

 

[HIMARS]

Duh 1805 tsh kwa 1$
Mwaka huu maajabu yatakuwa mengi sana

 

[Fx Trader]

Maisha bora kwa.......

 

[Dina]

If the man we trusted to safeguard the interest of our country including the currency dares to call our currency Hela ya Madafu meaning the lowest valuable currency what do we expect.
If the leaders of the country quote the values of their belongings in foreign currency ($) what do we expect?
If we allow people to trade in US$ in our streets and we see them as gods what do we expect?
Tanzania under the current system is a JOKE.

Imagine....na Mheshimiwa Ndulu akatoa utetezi usio na kichwa wala miguu kuhusu utumiaji wa dola locally, bila hata kufikiria madhara yake. Wakabaki kusema mteja halazimishwi kulipa kwa dola? Halazimishwi vipi wakati bidhaa yenyewe imeanzishwa na bei ya dola halafu unaambiwa kwa rate ya leo TZS ni kiasi hiki!

 

[IFRS]

Ebu tuanze kusaidiana ni factors zipi zinazochangia kuchange kwa exchange rate.naomba tuchangie kitaalamu na sio kisiasa

 

[Edson]

mtaani kumejaa pesa za kutakatisha unadhani uchumi utakuwa imara?

 

[Fx Trader]

Ebu tuanze kusaidiana ni factors zipi zinazochangia kuchange kwa exchange rate.naomba tuchangie kitaalamu na sio kisiasa

Economic and political factors have been listed.

 

[MchunguZI]

We are on the same page then, except that I do not think Tanzania is a dying country (whatever that means).

I am yet to see an expert analysis on why our currency is/has been doing so badly against USD. Do you know?

Simple! Our currency business is like this; You take the USD out to china and elsewhere, you buy toys and the likes. You bring them back for sale, you get back the TZS. Next week again you buy the USD off to china and the cycle goes on, meanwhile you sell nothing to bring in the USD. The exercise simply drains the USD without replenishment.

You have been filling in the gap by injecting in some USD from big brothers, donors, but this time they are saying to you, 'go to hell' tingatinga way. what do you expect?

Ok, you may have accrued something from the mining companies but the norm is that they are not tax payers. Only pay something to politicians and relax. where can you go? Tourism may be, but here is Ebola. With our stupidity integrated with our planning, it is unfortunate that we couldn't properly arrange for proper feeding of the tourism industry where more than 60% of expenditure are destined for air travel and hotels. How comes that we don't have a working national carrier while depending on tourism as the largest forex attractant? Stupidity among higher politician who have turned out to be planners of everything.

 

[MchunguZI]

hivi yule professor anafanya nini pale BOT?

Hili jina la professor limekuwa ni balaa!!
Professor huyu ukimuangalia kwenye google hutaweza ona hata publication yake moja! Lakini ukisoma majigambo yake kwenye biogrphy utakuna maneno yasiyopimika. Has done a lot, has published extensively, did a significant job, nk hawa ni watu wasioweza pimika.

 

[Erythrocyte]

BOT Governor is Professor Benno Ndulu the renowned Economist whereas the Tanzanian currency has depreciated at alarming rate. Mr. Governor please take action like your counterparts in Kenya and uganda.

Ndullu mwenyewe kakalia kuti kavu , ahangaikie nini ? Anajipanga naye ajichotee kwenye shamba la bibi ajisepee zake .

 

[MchunguZI]

Ebu tuanze kusaidiana ni factors zipi zinazochangia kuchange kwa exchange rate.naomba tuchangie kitaalamu na sio kisiasa

Weweee! Usiseme exchange rate, sema currency value. Exchange rate ni moja ya vigezo vinavyoeleza value ya currency.

Lakini mkuu, ktk yote haya cha muhimu kabisa ni stability ya currency value basi! Hapo ndo huyu profesa feki wa BOT anapoingia. BOT ikifanya kazi yake inaamua currency iende wapi. kama nchi ingekuwa ni ya export nzuri, BOT inaweza ikalazimika kushusha value ili commodities zetu zitoke kiurahisi kuliko za wengine. Lakini tuna nini mkuu! Hatuna kitu cha kuuza! Yaonekana pia Forex reserve yetu hakuna maana ingekuwepo, BOT wangeiachia iingie kwenye mzunguka na kuiinua TZS.