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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Major turns in Tanzania's exchange rates, 1967-1997
Author:Rutasitara, Longinus
Periodical:Tanzanian Economic Trends (ISSN 0856-3373)
Period:June-December 1996
Notes:biblio. refs., ills.
Geographic terms:Tanzania
East Africa
Subjects:exchange rates
Economics, Commerce
Economic liberalization
Foreign exchange control
monetary policy
Economic implications
Abstract:Tanzania pursued a relatively 'fixed' or predetermined exchange rate regime, especially prior to 1986. Until at least the mid-1980s preference was given to administrative trade and exchange controls, in an environment of largely expansionary macroeconomic policy. Even when serious internal and external imbalances appeared towards the end of the 1970s, particularly large nominal exchange rate changes were resisted. Gradual changes to a more liberal, market-based exchange rate determination began in the mid-1980s. This article traces movements in such key exchange rate indicators as the nominal official and parallel exchange rates and the real exchange rate in two broad exchange rate regimes in Tanzania, broadly identified as the predetermined (or controlled or fixed) exchange rate regime (1967-1986) and a more flexible market-oriented exchange rate regime (1986-1997). It also discusses issues arising from the management of transition and convergence towards a unified and stable exchange rate regime and its sustainability. App., bibliogr., notes, ref.