Tanzanian Shilling Holds Firm Against US Dollar

The Tanzanian shilling has maintained stability against the US dollar, trading at 2,654/- per dollar under the Bank of Tanzania's reference rate on Sunday.

The central bank set its dollar buying rate at 2,628/-, while commercial banks quoted varying rates. CRDB Bank bought the dollar at 2,600/- and sold it at 2,680/-. NMB Bank quoted 2,595/- for buying and 2,675/- for selling.

The difference between buying and selling rates means customers would receive a lower rate when selling dollars to banks. The shilling's performance against the dollar is significant for businesses involved in international trade, particularly importers whose costs are directly affected by exchange rate movements.