DAR ES SALAAM, May 21 -- LIQUIDITY in the countrys retail foreign exchange market has surged by 72.5 per cent following government measures to promote the use of the shilling in domestic transactions.

Average daily dollar liquidity rose to 69 million US dollars from 40 million US dollars over the past month, reflecting improved foreign currency availability, according to the Bank of Tanzania (BoT).

BoT Director of Financial Markets Emmanuel Akaro said yesterday that the increase was driven by individuals and businesses shifting from foreign currencies to the shilling for local transactions.

“This has helped us maintain the stability of our shilling compared to similar periods in previous years,” Akaro said during a meeting ...