Browsing: dollar

U.S. dollar is muscling it up against gold, but the precious metal just wont let up, not with the threat of a second Covid-19 outbreak as new cases emerge.

In Africa, the big gold miners, Tanzania is one of the countries that made some good money out of the increased demand for gold during the height of the Covid-19 global pandemic. However, over the past month, World market prices for gold declined slightly due to decrease in global demand as economies begin to stabilize

Actually, the prices for several selected commodities were lower in the year ended March than in the preceding month with the exception of Arabica coffee,” reports the Bank of Tanzania (BoT) monthly economic review.

As economies start opening up, Tanzania gold export is expected to remain strong however gold futures reported a second loss in a row at the end of June. This slight dip by …

The Tanzanian shilling has had an impressive first quarter stifling off the effects of coronavirus threat even amidst travel restrictions and slowed trade.

Up to the close of the quarter, the central bank of Tanzania, the Bank of Tanzania (BoT) said the Tanzanian shilling is strong and has ‘remained resilient against the dollar.’ This means trade, particularly import and export was stable as the value of the shilling muscled up against the dollar.

As matters would have it, by the end of February, the Tanzanian shilling was rather impressive trading at an average rate of Sh2,300.9 for every dollar, a commendable standoff compared to the Sh2,300 that was the trading rate against the dollar just a month before in January of this year.

Further still, despite the slowed trading owing to the coronavirus threat, the indicative foreign exchange market report released by the Bank of Tanzania (BoT) at the end …