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