Shilling depreciates 2% in January

The shilling ended January down by slightly over 2% pushed by importers increasing demand.


The shilling opened the month at 2,186/- and closed at 2,233/- against a US dollar.

 
CRDB Bank said toward the end of January, the shilling/dollar "The pair has remained stable due to matching demand and supply in the market". 
Source: Tanzania Exchnage, reported by Abduel Elinaza, in Dar es Salaam
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