On 28th of September, the BoT reported the mean exchange rates for the Tanzanian shilling (TZS) against major currencies: USD/TZS 2,297.6, GBP/TZS 2927.1, EUR/TZS 2,672.3, CNY/TZS 336.4, RWF/TZS 2.36, and KES/TZS 21.18.
During week 39 of 2020, from Monday 21st of September to Friday 25th 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 1.84%, from 2981.9 to 2927.2
- The Euro depreciated by 1.72%, from 2,721.4 to 2,674.4
- The Chinese yuan depreciated by 0.80%, from 339.2 to 336.4
- The Rwandan frank depreciated by 0.08% from 2.3712 to 2.3693
- The Kenyan shilling depreciated by 0.14%, from 21.21 to 21.18
From the beginning of 2020, the pairs fluctuated as follows:
- The US dollar appreciated by 0.40%, from 2,288.6 to 2,297.6
- The British pound depreciated by 3.03%, from 3,018.6 to 2,927.2
- The Euro appreciated by 4.06%, from 2,570.1 to 2,674.4
- The Chinese yuan appreciated by 2.34%, from 328.8 to 336.4
- The Rwandan frank depreciated by 1.87%, from 2.41 to 2.34
- The Kenyan shilling depreciated by 6.22%, from 22.58 to 21.18.
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Forex trading has seen huge growth across Africa in recent years especially growing rapidly in popularity amongst young people.
