THE shilling made couple of gains
against the dollar in the first trading sessions of the month that was
largely buoyed by the end of month inflows from the corporate sector.
Also, according to the CRDB Bank market
highlights the local currency’s stable condition was the result of
strong demand for the hard currency by corporates in fulfillment of the
end year obligations of tax and salaries.
“As the end-of-month dollar inflows from
the corporate sector as it works to meet its month end tax obligations
slowed, Tanzania’s shilling was stable against the dollar by the end of
yesterday’s trading session.
The local currency closed at the levels
of 2153/2193,” the statement said. The interbank money market volume was
recorded at 51.5bn/- with the shilling exchanged at the levels of
between 16.0 per cent and 13.0 per cent.
The NMB Bank e-market report shows that
the local currency edged higher against the dollar on the first trading
session of the month gaining at least four shillings, buoyed by weak
demand for dollars and after month end shilling outflows.
Market closed at 2148/2198 levels. The
first two days of the week saw the local money markets having a fairly
stable liquidity with overnight lending rates at 14 per cent levels.
The interbank money market volume was
recorded at 51.5bn/- with the shilling exchanged at the levels of
between 16.0 per cent and 13.0 per cent.
Kenya’s shilling was little changed in
early trading on Wednesday, with limited corporate demand for dollars
matched by modest inflows of foreign exchange from tea exports and
charities.
By 0721 GMT, the shilling was quoted by commercial banks at 102.15/35 to the dollar, compared with Tuesday’s close of 102.25/35.
The Ugandan shilling edged up on
Wednesday helped by expectations of hard currency inflows from offshore
investors into local Treasury debt. At 0829 GMT, commercial banks quoted
the shilling at 3,465/3,475, slightly up from Tuesday’s close of
3,470/3,480
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