“Efforts to address foreign currency shortages continues”-BoT.

Bank of Tanzania (BOT)

By Christian Gaya for HaKiPensheni Institute

The Bank of Tanzania (BoT) has said that will continue to actively participate in the market by...

selling US Dollars to commercial banks as part of its efforts to mitigate foreign currency shortages in the country. According to BoT Governor, this initiative aims to ensure adequate foreign currency liquidity in the market. In addition, it intends to ensure customers’ demands for foreign currency are met through licensed financial institutions at the prevailing market prices.

He furthermore emphases that it is imperative for all stakeholders to understand that the Bank of Tanzania's intervention in the forex market is guided by its Foreign Exchange Intervention Policy aimed at promoting market stability and meeting the legitimate forex needs in the country.