{"id":17594,"date":"2020-10-29T19:40:07","date_gmt":"2020-10-29T19:40:07","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=17594"},"modified":"2020-10-29T19:40:07","modified_gmt":"2020-10-29T19:40:07","slug":"shilling-remains-stable-thanks-to-cashew-inflows","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows","title":{"rendered":"SHILLING REMAINS STABLE, THANKS TO CASHEW INFLOWS"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> THE shilling is tipped to remain stable in the coming weeks, thanks to matching demand and supply backed by agriculture commodities inflows.<\/p>\n

The shilling, according to NMB Bank, traded against the US dollar at 2,307\/- for buying and 2,339\/- for selling at the opening of the week.<\/p>\n

The bank said in its e-Market report that it remained steady backed by supply observed from agri-commodities, particularly cashew nuts.<\/p>\n

\u201cDemand from corporates such as oil marketing companies (OMCs), manufactures and telecoms continue to match the current supply. \u201cWe expect the local currency to remain stable,\u201d NMB\u2019s e-market report said.<\/p>\n

The Bank of Tanzania (BoT) showed that the shilling minutely depreciated since the month began, almost trading at stable range.<\/p>\n

The local currency opened this month at 2,286\/16 for buying while selling at 2,309\/03 and closed this Tuesday at 2,286\/24 buying and 2,309\/11 selling.<\/p>\n

Orbit Securities said in its weekly synopsis report that the shilling remained stable after ending last Friday down by merely 2 percentages in point (pips).<\/p>\n

\u201cThe shilling remained stable with a slight depreciation of 2 pips while closing the week at a weighted average exchange rate of 2,309.08 against US dollars,\u201d Orbit said.<\/p>\n

Meanwhile, the value of transactions on the Interbank Foreign Exchange Market (IFEM) went down by 20 per cent to a total of 4.85 million US dollars during the week under review.<\/p>\n

\u201cThis marks the second week of falling total weekly values after a seven weeks\u2019 series of rising in weekly values,\u201d Orbit said.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: THE shilling is tipped to remain stable in the coming weeks, thanks to matching demand and supply backed by agriculture commodities inflows. The shilling, according to NMB Bank, traded against the US dollar at 2,307\/- for buying and 2,339\/- for selling at the opening of the week. The bank said in its e-Market report […]<\/p>\n","protected":false},"author":84,"featured_media":17577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[4435,4143,2612],"class_list":["post-17594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-omcs","tag-pips","tag-shilling"],"yoast_head":"\nSHILLING REMAINS STABLE, THANKS TO CASHEW INFLOWS - Tanzania<\/title>\n<meta name=\"description\" content=\"THE shilling is tipped to remain stable in the coming weeks, thanks to matching demand and supply backed by agriculture commodities inflows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHILLING REMAINS STABLE, THANKS TO CASHEW INFLOWS\" \/>\n<meta property=\"og:description\" content=\"THE shilling is tipped to remain stable in the coming weeks, thanks to matching demand and supply backed by agriculture commodities inflows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-29T19:40:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/10\/7e1e7637e0b1a0ffb35bdc0fdc13b167-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SHILLING REMAINS STABLE, THANKS TO CASHEW INFLOWS\",\"datePublished\":\"2020-10-29T19:40:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows\"},\"wordCount\":247,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/10\/7e1e7637e0b1a0ffb35bdc0fdc13b167-scaled.jpg\",\"keywords\":[\"OMCs\",\"pips\",\"shilling\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/shilling-remains-stable-thanks-to-cashew-inflows\",\"name\":\"SHILLING REMAINS STABLE, THANKS TO CASHEW INFLOWS - 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