BY DIRAMAKINI
THE Bank of Tanzania has intervened in the Interbank Foreign Exchange Market (IFEM) by selling $20 million through an auction at a weighted average exchange rate of TZS 2,465.13 per USD.
This move aims to provide liquidity in the foreign exchange market, in line with the Bank's Foreign Exchange Intervention Policy, 2023.
The intervention is expected to help stabilize the local currency and ensure smooth functioning of the foreign exchange market.
The Bank of Tanzania remains committed to maintaining stability in the financial sector.
