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| Source: Exchangerates.org.uk |
The
shilling extended gains for a third straight day against the US dollar
yesterday, thanks to moderate demand from oil importers.
The
market, according to National Microfinance Bank (NMB), closed at 1588/1598, a
five shillings gain from Wednesday’s.
“Investors
were settling their T-bills obligations coupled with a moderate demand for the
greenback from oil importers as they settle their tax dues,” the bank said in
its e-Market daily reports.
Liquidity
stance held slightly tight on Friday while the general trend remains downwards
for overnight rates easing from record highs.
On
Wednesday, the Bank of Tanzania made a big-stride after accepting 95.5bn/-
worth of T-Bill, which was the highest amount since the beginning of this year.
The central bank wanted to raise 100bn/- but the market offered 169.3bn/-.
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