DAR ES SALAAM, June 25 -- THE Bank of Tanzania (BoT) has slightly reduced its most liquid reserves while increasing its gold holdings, signalling a strategic shift in the management of the countrys foreign assets amid global economic uncertainties.

The central banks cash and cash equivalents stood at 3.99tri/- in May, down marginally from 4.03tri/- at the end of April, while its bullion gold holdings increased by 12.65 per cent to 5.84tri/-, according to the latest statement of financial position.

The figures were disclosed in the central banks statement of financial position published in accordance with the BoT Act and signed by Governor Emmanuel Tutuba.

Economist and investment banker Dr Hildebrand Shayo said the movement reflected a...