Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. The Tanzanian shilling has depreciated against the US dollar by 11.4 percent during the past one year, hitting importers hard and raising the cost of executing some mega projects.
This is a consequence of the decision by the US Federal Reserve in July 2023 to raise interest rates to between 5.25 percent and 5.5 percent – a 23-year high.
