Trading in Tanzania’s interbank forex market (IFEM) reached about USD 563.29 million between July and September 2026 at an average rate of TZS 2,650 to 2,660 per USD.
This is the first full quarter since the Bank of Tanzania (BoT) moved spot trading onto an Electronic Matching System (EMS).
The figures were published in the sixth issue of Uchumi Wetu, the quarterly magazine of the central bank, which was listed on the BoT website on 16 October 2026.
The Bank said the IFEM continued to operate successfully between July and September 2026, with the pace of transactions rising to about USD 563.29 million while the average exchange rate stayed between TZS 2,650 and 2,660.
BoT announced the EMS in a circular dated 28 April 2026 and signed by the Governor, Emmanuel Tutuba, with the Guidelines for the Electronic Matching System, 2026, taking effect on 18 May 2026.
From 18 May 2026, all licensed commercial banks became system participants and were required to publish firm quotes and volumes on the EMS during trading hours.
All spot foreign exchange transactions between the shilling and the US dollar within the IFEM must now be conducted through the EMS.
Non-bank institutions, meaning large exporters, may take part only as sellers of foreign currency, after applying to the BoT for approval and confirming that they meet all operational and regulatory requirements.
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