BoT pumps $100 million into circulation to tame dollar shortages
Tanzania, March 23 -- Zanzibar. The Bank of Tanzania (BoT) sold $100 million last week as part of measures to alleviate foreign currency supply constraints, which have led to the formation of a black market for the dollar in recent months.
Mr Emmanuel Tutuba, the central bank governor, stated that the government was implementing a slew of measures to expand the dollar supply, warning dealers suspected of keeping the currency.
"I believe that those who hold currency in the black market will suffer future losses because the economy is opening up and the risks and vulnerabilities in the global economy are diminishing," said Mr Tutuba.
He remarked during a meeting with tourist hotel owners and operators in Zanzibar to inform them about the...
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