Shilling slides 1.2 per cent since January

THE shilling has continued to hold steadily against US dollars losing some 2/- in one month ending today.  The shilling opened the last month at 2,189/93 to close the Monday trading at 2,187/93, due to a match in demand and supply.

 The Bank of Tanzania data shows in the last eight months the shilling went down by 1.2 per cent despite liquidity tightness, the is economy currently facing.

 National Microfinance Bank (NMB) said in market report that the shilling remained stable on last Thursday, with liquidity tightness and less inflow from agriculture and NGOs.

The analysts worry that the stability might not last longer as foreign exchange market experienced mostly larger importers demand from the oil and manufacturing sectors picking as well as SMEs.