The Tanzanian shilling’s outlook remains stable in the near term, helped
by dollar inflows from tourism and agriculture sectors and subdued dollar
demand from importers.
On Thursday,
commercial banks quoted the shilling at 2,234/2,244 to the dollar, unchanged
from a week ago.
“Demand for dollars is being matched by supply at the moment, so
the outlook for next week is that of continued stability,” said a trader in one
of Tanzania’s largest banks.
Historically, the Tanzania Shilling reached an all time high of
2260.80 in June of 2015 and a record low of 1014.30 in December of 2004.
The shilling is expected to trade at 2251.00 by the end of this
quarter, according to Trading Economics global macro models and analysts
expectations.
Looking forward, we estimate it to trade at 2318.00 in 12 months
time.
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