Despite the shake ups and mishaps experienced in the mining sector that have adversely affected the economy, there is good news in the paradox of business encounter.
Though there is a loose end in disturbance of the balance in economy, the greater good has reflected in the Tanzanian shilling. This has already been confirmed as far as the cash flow is concerned.
It is believed that the Tanzanian shilling will hold steady, helped by dollar inflows from the mining sector and month-end sales of greenbacks by companies to pay taxes and salaries in local currency.
“The outlook for the shilling next week is that of continued stability. There is demand for dollars from energy and construction sectors, but this is being offset by inflows from mining companies,” said a trader at CRDB Bank.
Commercial banks quoted the shilling at 2,234/2,244 to the dollar on Thursday, barely moved from 2,235/2,245 a week ago.