Four opposition parties have jointly requested the government to clearly state its stand on the future of the Tanzanian currency, following rampant dollarisation of the economy and its impact on the lives of Tanzanians. Announcing the request at the NCCR-Mageuzi headquarters in Dar es Salaam yesterday, the spokesman of the alliance James Mbatia said it was a pity to see the government allowing the on-going dollarisation of the national economy for such a long time such that the strength of the shilling had been weakened compared with the currency of neighbouring countries.
The call comes amid continuous weakening of the Tanzania shilling when measured against the Kenyan and Ugandan shillings. Last year alone, it dropped by almost 18 percent. Last year, one US dollar was exchanged at Tshs 1,100/; Ush 1,800; and Ksh. 80. Mbatia said that while the Kenyan and Ugandan shilling had appreciated against the US dollar, the Tanzania shilling has depreciated as it is currently being exchanged at 1,300/- per one US dollar. By yesterday, the Ugandan shilling had picked up to Ush 1,679 against the US dollar.
ANTI-DOLLARISATION CALL IN TANZANIA
Four opposition parties have jointly requested the government to clearly state its stand on the future of the Tanzanian currency, following rampant dollarisation of the economy and its impact on the lives of Tanzanians.
