{"id":45000,"date":"2022-01-13T16:11:38","date_gmt":"2022-01-13T16:11:38","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=45000"},"modified":"2022-01-13T15:41:56","modified_gmt":"2022-01-13T15:41:56","slug":"shilling-remains-steady-against-dollar","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar","title":{"rendered":"Shilling remains steady against dollar"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>The shilling steadiness over the US dollars continued in the first 10 days of the year signalling a stable exchange rate ahead as cashew nuts earnings anchor the stance.<\/p>\n

The shilling based on central bank data fluctuated insignificantly by merely 15\/- since the opening of the year when trading against the greenback to close the Tuesday session at 2,309\/29.<\/p>\n

NMB Bank said in its daily e-market report that the shilling-dollar pair held steady on Tuesday trading session amid increased demand from importers and SMEs.<\/p>\n

\u201c[The] shilling held steady against the dollar as market activities improve,\u201d NMB report said.<\/p>\n

The shilling on the commercial arena was trading at 2,320\/- against US dollars which was almost a similar rate recorded at the beginning of the year.<\/p>\n

\u201cInflows from agriculture and mining sectors continue to support the demand in the market,\u201d NMB, one of the largest lenders in the lands, the report showed.<\/p>\n

The report said further that a similar trend was expected on today trading session \u201cunless sizable demand enters the market,\u201d The central bank last November took a number of steps to stabilize the shilling including an increased supply of foreign exchange.<\/p>\n

The stance paid off as, according to the latest Monthly Economic Review (MER), the shilling registered a slight appreciation against the US dollar last November, traded at an average rate of 2,304\/64 compared to 2,306\/58 per in the preceding month. The shilling also, MER report showed, registered an annual appreciation of 0.19 per cent from 2,309.12 per US dollar registered in November 2020.<\/p>\n

\u201cThe shilling is projected to remain stable, supported by low inflation expectations, prudent monetary and fiscal policies and orderly foreign exchange market operations,\u201d the MER report said.<\/p>\n

Also, the interbank foreign exchange market (IFEM) was characterised by an increase in the supply of foreign exchange last November, emanating from proceeds of exports of minerals, cash crops and tourism-related activities.<\/p>\n

The BoT participated in the IFEM, by purchasing 85.2 million US dollars mainly for reserves and liquidity management purposes.<\/p>\n

Meanwhile, total IFEM transactions amounted to 165.7 million US dollars last November, slightly below USD 168.7 million traded in the preceding month.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. The shilling steadiness over the US dollars continued in the first 10 days of the year signalling a stable exchange rate ahead as cashew nuts earnings anchor the stance. The shilling based on central bank data fluctuated insignificantly by merely 15\/- since the opening of the year when trading against the greenback […]<\/p>\n","protected":false},"author":84,"featured_media":44999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-45000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nShilling remains steady against dollar - Tanzania<\/title>\n<meta name=\"description\" content=\"The shilling steadiness over the US dollars continued in the first 10 days of the year signalling a stable exchange rate ...\" \/>\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\/all-news\/shilling-remains-steady-against-dollar\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shilling remains steady against dollar\" \/>\n<meta property=\"og:description\" content=\"The shilling steadiness over the US dollars continued in the first 10 days of the year signalling a stable exchange rate ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar\" \/>\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=\"2022-01-13T16:11:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2022\/01\/img-61e048214127c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Shilling remains steady against dollar\",\"datePublished\":\"2022-01-13T16:11:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar\"},\"wordCount\":361,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2022\/01\/img-61e048214127c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/shilling-remains-steady-against-dollar\",\"name\":\"Shilling remains steady against dollar - 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