DODOMA, March 23 — Tanzania’s central bank said on Saturday that it is actively working to address the foreign currency shortage the country is currently facing.
The Bank of Tanzania said in a statement issued by its headquarters in the capital of Dodoma that the bank is actively participating in the market by selling U.S. dollars to commercial banks as part of its efforts to mitigate foreign currency shortages in the country.
This initiative aims to ensure adequate foreign currency liquidity in the market, said the statement. “In addition, it intends to ensure customers’ demands for foreign currency are met through licensed financial institutions at the prevailing market prices.”
The statement added that all stakeholders must understand that the Bank of Tanzania’s intervention in the forex market is guided by its Foreign Exchange Intervention Policy aimed at promoting market stability and meeting the legitimate forex needs in the country.
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