Tanzanian Central Bank has assured the public that, there is sufficient stock of foreign exchange reserves, hence there is no reason to panic.
The financial institution issued a statement late Friday to refute the information circulated on various social media platforms showing that shilling had depreciated to 2,481.83 per USD.
The reports were sourced from Bloomberg, an online site that provides a comprehensive access to global business and finance news, market data and portfolio tracking tools. BOT insisted that
"...by the time of closing the Inter-bank Foreign Exchange Market (IFEM) today (3rd November 2017,) the shilling was trading between TZS 2,246.50 and TZS 2,247.60 per USD."
After release of the information, the Bank said it communicated with Bloomberg which confirmed that "there were some contributors who had entered incorrect data and therefore, they began to make corrections."
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