Shilling holds firm as bank rates differ
DAR ES SALAAM, Oct. 1 -- THE Tanzanian shilling remained broadly stable against major foreign currencies yesterday, although commercial banks quoted varying buying and selling rates, highlighting differences customers face when exchanging foreign currency.
According to the Bank of Tanzania (BoT) reference rates, the US dollar was quoted at 2,629/- for buying and 2,655/- for selling, with an average rate of 2,642/-.
Commercial banks, however, quoted different rates, reflecting the prices customers could actually obtain when buying or selling foreign currency through the banking system.
At CRDB Bank, the US dollar was bought at 2,600/- and sold at 2,680/- yesterday, with the rates remaining unchanged from the previous week.
At NMB Bank,...
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