Currency Crisis: BoT and MoF, issue a statement!

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Fx Trader

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It is very strange that in spite of the local currency depreciating by over Tzs 70 against the Usd Dollar in short period of only 1 month neither the Bank of Tanzania or th Ministry of Finance has issued a statement to reassure the market and the public in general.

The uncertainty has caused panic and anxiety with the Bank of Tanzania in danger of loosing it credibility.

The suspension of foreign aid has lead to market speculating that the central bank has no muscle to intervene or use other monetary instructions to halt the ralid depreciation. For example the local today depreciated by Tzs 7 today due to.panic buying from importers and interbank players speculating.

This is a clear sign that the market is misfunctioning and as a regulator it is your mandate to correct the practice.

In summary you need to assure the public that you are in control and you have enough fire power .

God Bless Tanzania
 
Inasikitisha sana, kila sehemu kumekuwa na siasa hata kwenye taasisi muhimu kama BoT.

Prof. Ndulu amaweka pembeni wajibu wake na kuanza kutumika kisiasa.

Wamekuwa busy kulipa "escrow" kuliko kujali uchumi wa watanzania.

Kila siku tunatakiwa kupata hali ya uchumi kutoka BoT lakini haifanyiki.

Wizara fedha imelala

Maccm sijui yanaipeleka wapi nchi hii.
 

let the market forces detects
 
The markets have to be regulated for the public good! 2008 global financial crises was caused by the so called markets! Who paid for bailing out banks? Its the tax payers. Who will suffer from the withholding of foreign aid? Its the common men and the overburden tax payers.
 

do you think currency trading a public good?
 
Heeeee...wait! soon BoT will give very post statement for 'slight rise of economy' in recent days.

It's really unfortunate that BMK has taken the whole money for a fake ccm new constitution!
 
dola 1 sasa hivi inabadilishwa kwa sh ngapi za tanzania
 
I said markets have to be regulated. The volatility in the exchange effects the public good via inflation. In this case since we are a net importer the effect is the even more severe because its easier to for prices to risr than fall.
 
Fx Trader said:
I said markets have to be regulated. The volatility in the exchange effects the public good via inflation. In this case since we are a net importer the effect is the even more severe because its easier to for prices to risr than fall.
Click to expand...
Bot can only provide short term measure but the truth remains foreign currency regulations is a function of supply and demand
 
I totally agree. The market has to be regulated so that it behaves fundamental rather than pure speculation. The point here is not that that tzs should.not weaken but how quickly. This rate of depreciation disorts not just the exchange rate market but also other commodity markets and ultimately to inflation.
 
Factors za currency depreciation ziko wazi.....impact zake pia hazihitaji miwani.....Lakini tunakosa media za ku address hizi issue kwa undani na kwa lugha rahisi......tunasubiri habari za pale maelezo......shame on us!!! nchi inakwenda chini huku hata wenye ufahamu wakipotezea.......
 
Serikali ikiamua kulazimisha kuongeza fedha za kigeni kwa nguvu itambue nini kitatokea......tupo ICU tayari kiuchumi ......ikilazimisha maana yake impact yake itazidi kumuumiza mwananchi na kuelekea kuhatarisha usalama wa nchi ambao hatuna bajeti ya uhakika kuusimamia.....nategemea majiniasi wetu watashauri bila unafiki.......
 
Mkuu unaweza kufafanua fedha za kigeni zitaongezwaje kinguvu?
 
Nauliza tena

Hivi bajeti ya Tanzania ni kiasi gani in terms of USD na out of that kiasi gani inachangiwa kiasi gani un terma of USD na nchi wahisani?
 
Where is that Mchumia namba one? The only one called Mwigulu Nchemba .....tommorow expect a statement from him .....a press conference .........wait few hours ......
 
HNIC said:
Nauliza tena

Hivi bajeti ya Tanzania ni kiasi gani in terms of USD na out of that kiasi gani inachangiwa kiasi gani un terma of USD na nchi wahisani?
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it was about tshs 21 trilion. and more than 60%. of that is to be collected from donors' baskets. u will not trust that your government currently has no fund even to pay monthly salaries. I have seen them several times taking shortterm loans from these comercial banks and local tycoons. I dont understand may be this is the way most african governments operate
 
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