Tanzania's central bank just dumped 25 million bucks into the forex market through an auction because everyone keeps wanting dollars and they needed to keep things stable. The sale pulled serious interest from commercial banks, who actually bid for 28.5 million total, with 18 out of 21 banks walking away with cash.
The whole operation cleared at around 2,443 shillings per dollar, with the highest winning bid hitting 2,445 and the lowest accepted rate landing at 2,440. BoT said the move helps pump liquidity into the system and keeps financial institutions from freaking out about currency availability. The central bank keeps jumping into the interbank market more often these days to make sure there's enough foreign currency floating around for legit business needs.
The whole operation cleared at around 2,443 shillings per dollar, with the highest winning bid hitting 2,445 and the lowest accepted rate landing at 2,440. BoT said the move helps pump liquidity into the system and keeps financial institutions from freaking out about currency availability. The central bank keeps jumping into the interbank market more often these days to make sure there's enough foreign currency floating around for legit business needs.
