The Sunk Cost Fallacy 2
JF-Expert Member
- Nov 8, 2022
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Kwamba Dola inapatika kwenye soko lisilo rasmi "black market" ila Kwa bei ghali zaidi ya bei halisi ya soko hivyo kulazimisha Waagizaji wa bidhaa hasa Mafuta kuanza kutumia euros.
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Importers in Tanzania, especially those of petroleum products, are increasingly adopting the euro as shortage of the dollar persists.
However, the adoption is not without a cost as the euro remains an expensive option, and with the dollar remaining the preferred vehicle currency, the international conversion rate still recognises it (the dollar).
Traders say they started adopting the euro after realising that it has been stable for a long time and that it is widely accepted.
The executive director of the Tanzania Association of Oil Marketing Companies (Taomac), Mr Raphael Mgaya, said forex required for products to be sold in June includes $86.7 million and 43.8 million euros from the official market, excluding dollars from the black market.
He said the dollar crisis facing Tanzania and the globe has worsened to a point where they now have to import using the euro instead of the dollar.
“More than a third of the petroleum products imported in June were imported using the euro. This is also partly affecting the price of fuel in the country,” he said, adding that dollars were now easily accessed in the black market but at rates that are more expensive than the official ones.
The views became more pronounced through the cap prices for petroleum products, which were announced by the Energy and Water Utilities Regulatory Authority (Ewura) on Wednesday.
Though motorists got a slight relief in prices, Ewura noted that the continuous use of the euro was making the decrease minimal.
The Bank of Tanzania (BoT) says that while the business community is slowly turning to the euro and other currencies, it remains expensive because the dollar is still recognized by the international conversion rate.
My Take
Ikiwezeoana tuachane kabisa na matumizi ya Dola.
Kwa Sasa Tanzania inaongoza Africa kufanya biashara na India,Kwa nini tuendelee kutumia dola badala ya Shilingi vs rupee?
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However, the adoption is not without a cost as the euro remains an expensive option, and with the dollar remaining the preferred vehicle currency, the international conversion rate still recognises it (the dollar).
Traders say they started adopting the euro after realising that it has been stable for a long time and that it is widely accepted.
The executive director of the Tanzania Association of Oil Marketing Companies (Taomac), Mr Raphael Mgaya, said forex required for products to be sold in June includes $86.7 million and 43.8 million euros from the official market, excluding dollars from the black market.
He said the dollar crisis facing Tanzania and the globe has worsened to a point where they now have to import using the euro instead of the dollar.
“More than a third of the petroleum products imported in June were imported using the euro. This is also partly affecting the price of fuel in the country,” he said, adding that dollars were now easily accessed in the black market but at rates that are more expensive than the official ones.
The views became more pronounced through the cap prices for petroleum products, which were announced by the Energy and Water Utilities Regulatory Authority (Ewura) on Wednesday.
Though motorists got a slight relief in prices, Ewura noted that the continuous use of the euro was making the decrease minimal.
The Bank of Tanzania (BoT) says that while the business community is slowly turning to the euro and other currencies, it remains expensive because the dollar is still recognized by the international conversion rate.
My Take
Ikiwezeoana tuachane kabisa na matumizi ya Dola.
Kwa Sasa Tanzania inaongoza Africa kufanya biashara na India,Kwa nini tuendelee kutumia dola badala ya Shilingi vs rupee?
