Interbank rates remain high, shilling hold firmly

BoT Headquarter in Dar
Interbank saw increased activity yesterday as players fund the end of month tax outflows. 

Rates remained between 8 per cent and 10 per cent with most of the large banks seeing on the offers side. 

The situation helped the shilling to trade relatively flat on the last day on February as demand was well matched by supply in the corporate and interbank markets. 

“Today we expect a similar trend with bias on a slightly stronger shilling,” Standard Chartered Bank says

The shilling closed the last month appreciated slightly from 1,591/24 at the beginning of the month to 1,589/50   of the last day of February against the US dollar, according to the Bank of Tanzania data.
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