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If we examine the Tanzanian Shilling, there’s good reason to be quite optimistic about the state of the economy. Following some fairly unprecedented appreciation 12 months ago from 2650 to 2350 over a matter of days before climbing back up to 2700, we’ve seen a steady, seemingly steady appreciation of the Shilling back to 2450 levels over the last six months. With local bond yields still showing north of 12% and auctions gathering a strong 4.5x bid-to-cover ratio, the future appears bright for the economy.
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