Dar es Salaam. The Bank of Tanzania (BoT) has sold USD 15 million in the Interbank Foreign Exchange Market (IFEM) as part of its ongoing efforts to maintain liquidity and stability in the foreign exchange market.
According to the Bank’s announcement, the auction was conducted under the Foreign Exchange Intervention Policy, 2023, at a weighted average rate of TZS 2,471.73 per USD. A total of 26 banks participated in the auction, with 14 banks successfully securing allocations.
The tender attracted bids amounting to USD 34.75 million, while the accepted range of bids fell between TZS 2,470.00 and TZS 2,472.00 per USD.
BoT said the intervention aims to enhance liquidity and ensure smooth functioning of the foreign exchange market.
Since October last year, Tanzania has recorded a significant improvement in dollar liquidity, attributed to the monetary and fiscal measures implemented by the authorities.
