On 14th of September, the BoT reported the mean exchange rates for the Tanzanian shilling (TZS) against major currencies: USD/TZS 2,297.6, GBP/TZS 2947.9, EUR/TZS 2,724.7, CNY/TZS 336.1, RWF/TZS 2.37, and KES/TZS 21.19.
During week 37 of 2020, from Monday 7th of September to Friday 11th of September, the pairs fluctuated as follows:
- The US dollar remained steady at 2,297.6 against the Tanzanian shilling
- The British pound depreciated by 2.58%, from 3,050.1 to 2,971.4
- The Euro depreciated by 0.04%, from 2,722.7 to 2,721.6
- The Chinese yuan depreciated by 0.04%, from 336.04 to 336.02
- The Rwandan frank depreciated by 0.07% from 2.375 to 2.373
- The Kenyan shilling depreciated by 0.14%, from 21.22 to 21.19
From the beginning of 2020, the pairs fluctuated as follows:
- The US dollar appreciated by 0.39%, from 2,288.6 to 2,297.6
- The British pound depreciated by 1.57%, from 3,018.6 to 2,971.4
- The Euro appreciated by 5.90%, from 2,570.1 to 2,721.6
- The Chinese yuan appreciated by 2.21%, from 328.8 to 336.02
- The Rwandan frank depreciated by 1.72%, from 2.41 to 2.37
- The Kenyan shilling depreciated by 6.18%, from 22.58 to 21.19.
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Forex trading has seen huge growth across Africa in recent years especially growing rapidly in popularity amongst young people.
