Ifem

The price discrepancy was so close, according to an Ogra official, that it might be modified within the inland freight equalization margin (IFEM), which is a system designed to provide consistent prices throughout the nation.

THE shilling has maintained strength after appreciating for the fifth week in a row on the Interbank Foreign Exchange Market (IFEM).

Central bank locks out five commercial banks from IFEM (Yesterday) - The Bank of Tanzania (BoT) has suspended five commercial banks to participate in Interbank Foreign.

The Inter Bank Foreign Exchange Market (IFEM) is closely tied to the official rate.

Under IFEM, banks, oil companies, and the CBN can buy or sell their foreign exchange at government influenced rates.