Saturday, June 11, 2011

Why denouncing Tanzanian coins on the streets?

Is the Central Bank of Tanzania aware of this? Tanzanian worthless coins have been turned a selling commodity in public. The situation can be seen in most Daladala bus stops in Dar es Salaam. Few unscrupulous traders who calls themselves money changers in black markets exchanges Tanzanian coins to would be Daladala conductors and other people around at the expense of the shortage of keep change. Each bundle of a coin worth Tshs. 800/- is exchanged for Tshs. 1,000/- note. But it’s very unfortunate that, these traders are not licensed to operate like bureau de change shops and to make it more worse, the Bank of Tanzania seems to have turned a blind aye to the situation that has escalated broadly in the city of Dar es Salaam. Above, a young lady and a boy arranges their coins in bundles at a bus stand at Banana when I captured them waiting for customers. According to them, they make a profit of Tshs. 200/- for every bundle sold so as to make end a day’s living.

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