Tanzania Forex Update: Exchange Rates Week 41, 2020

TANZANIA FOREX EXCHANGE RATES WEEK 41 2020

On 12th of October, the BoT reported the mean exchange rates for the Tanzanian shilling (TZS) against major currencies: USD/TZS 2,297.6, GBP/TZS 2973, EUR/TZS 2,710, CNY/TZS 342.9, RWF/TZS 2.35, and KES/TZS 21.17.

During week 41 of 2020, from Monday 5th to Friday 9th of October, the pairs fluctuated as follows:

  • The US dollar remained steady at 2,297.6 against the Tanzanian shilling
  • The British pound depreciated by 0.09%, from 2972.4 to 2969.8
  • The Euro appreciated by 0.49%, from 2,690.5 to 2,703.6
  • The Chinese yuan remained steady at 338.34 against the Tanzanian Shilling
  • The Rwandan frank depreciated by 0.09% from 2.355 to 2.352
  • The Kenyan shilling remained steady at 21.17 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 1.62%, from 3,018.6 to 2,969.8
  • The Euro appreciated by 5.20%, from 2,570.1 to 2,703.6
  • The Chinese yuan appreciated by 2.92%, from 328.8 to 338.3
  • The Rwandan frank depreciated by 2.57%, from 2.41 to 2.35
  • The Kenyan shilling depreciated by 6.26%, from 22.58 to 21.17

Tanzania Forex Trading

With forex trading, you buy or sell the movement in currencies with the aim to profit from the appreciation or depreciation of one currency over the other.

Forex trading has seen huge growth across Africa in recent years especially growing rapidly in popularity amongst young people.

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