Kitomari Banking & Finance Blog is a premier site for banking, finance, business, economic, investment and stock market news as well as selected informative articles from Tanzania, East Africa and the rest of the World. We operate 24 hours a day, 365 days a year with complete context, perspective and precision.
Tuesday, 7 January 2020
FOREX RESERVES HIT RECORD HIGH
Tanzania recorded the highest foreign reserves at the end of November last year, sufficient to cover 6.4 months of projected imports of goods and services it traded on.
According to the Ba k of Tanzania (BOT) monthly economic review for December last year, the country's foreign reserves were 5,533.7 million US dollars (over TZS 12.7 trillion), higher than 5,078.8 million US dollars recorded in the previous year and enough to cover about 5.0 months.
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