On 5th of October, the BoT reported the mean exchange rates for the Tanzanian shilling (TZS) against major currencies: USD/TZS 2,297.6, GBP/TZS 2972.4, EUR/TZS 2,690.5, CNY/TZS 338.4, RWF/TZS 2.35, and KES/TZS 21.17.
During week 40 of 2020, from Monday 28th of September to Friday 2nd of October, the pairs fluctuated as follows:
- The US dollar remained steady at 2,297.6 against the Tanzanian shilling
- The British pound appreciated by 1.41%, from 2927.1 to 2968.5
- The Euro appreciated by 1.04%, from 2,672.3 to 2,700.2
- The Chinese yuan appreciated by 0.57%, from 336.4 to 338.3
- The Rwandan frank depreciated by 0.06% from 2.357 to 2.355
- The Kenyan shilling remained steady at 21.18 against the Tanzanian Shilling
From the beginning of 2020, the pairs fluctuated as follows:
- The US dollar appreciated by 0.40%, from 2,288.6 to 2,297.6
- The British pound depreciated by 1.66%, from 3,018.6 to 2,968.5
- The Euro appreciated by 5.06%, from 2,570.1 to 2,700.2
- The Chinese yuan appreciated by 2.92%, from 328.8 to 338.3
- The Rwandan frank depreciated by 2.355%, from 2.41 to 2.36
- The Kenyan shilling depreciated by 6.22%, from 22.58 to 21.18.
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Forex trading has seen huge growth across Africa in recent years especially growing rapidly in popularity amongst young people.