Shilling slides slightly in seven months

The shilling has marginally depreciated by 2.5 per cent since the beginning of the year. The Bank of Tanzania (BoT) data showed yesterday that the shilling dropped to 2,242/35 yesterday against 2,186/21 at the beginning of this year.

The drop margin, according to money experts, was acceptable since it has insignificant impact on businesses and terming it as somewhat stable fluctuation.

“The market has seen the greenback stabilized against the shilling due to matching levels of demand and supply,” CRDB said in its Market highlight of yesterday.

However, last Friday, the greenback maintained its position against the shilling. The USD/TZS ended the session at the same levels of 2,220/60.