Tanzanian shilling strengthens to become world’s top-performing currency
Dar es Salaam. The Tanzanian shilling has rallied to become one of the top performing currencies in the world, due mainly to record high gold prices and a surge in inflows of U.S. dollars from agriculture, tourism, and transport sectors. The central bank quoted the shilling trading at 2,578/2,604 levels today, up from 2,586/2,612 at the start of March. The 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿 𝗼𝗳 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗮𝘁 𝘁𝗵𝗲 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗧𝗮𝗻𝘇𝗮𝗻𝗶𝗮 (𝗕𝗼𝗧), 𝗘𝗺𝗺𝗮𝗻𝘂𝗲𝗹 𝗔𝗸𝗮𝗿𝗼 (pictured), said the outlook for the Tanzanian shilling is positive throughout the year, bucking the historical trend of depreciation...