The continue weakening of the Tanzanian shilling against the dominant bust scarce US dollar has reached record levels, Tanzanians are now forced to dig deeper into their pockets to pay for imports and other foreign products in the country amid a worrying shilling fall to an all-time low against the United States dollar.
The Central Bank of Tanzania (BoT)’s indicative exchange rates as of August 16, 2023, show the country’s shilling has hit a new record low of an average of 2428.7 against the dollar, setting up citizens for more expensive imports and debt servicing distress.
Experts say that such an unpredictable shilling means importers will be spending more on bringing in goods as raw materials for factories.
It is however not only Tanzania that was at this dollar-shilling hullabaloo; according to Dr Buberwa, most sub-Saharan African currencies continue to weaken against the US dollar, circulating inflationary pressures across the continent as import prices keep on surging.
With the weakening of our shilling against the dollar, it’s just a blink of an eye, and local prices will keep on surging, including essential items like food, most of which are imported. 
