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.