Experts say Tanzania’s unpredictable shilling means importers will be spending more on bringing in goods as raw materials for factories. PHOTO | COURTESY
Tanzanians are now forced to dig deeper into their pockets to pay for imports and other foreign products in the country amid a worrying shilling fall to an all-time low against the United States dollar.
Bank of Tanzania (BoT)’s indicative exchange rates as of Thursday show the country’s shilling has hit a new record low of an average of 2428.7 against the dollar, setting up citizens for more expensive imports and debt servicing distress.
