The Tanzanian shilling remained fairly stable against the US dollar during Q3, 2022 trading at an average of 2,316.7/- per US dollar, compared with 2,311.8/- per US dollar in the previous quarter according to the latest Bank of Tanzania (BoT) Quarterly Economic Bulletin.
According to the Central Bank report, the shilling on annual basis however depreciated marginally by 0.27 per cent from 2,310.4/- per US dollar registered in the quarter ending September 2021.
It noted that the Stock of Tanzania’s foreign exchange reserves was $4.9 billion at the end of September
2022, lower than USD 6,775 million in the corresponding period in 2021.
“The amount was sufficient to cover about 4.5 months of imports of goods and services and was in line with the country’s benchmark of not less than 4 months,” the report added.