Bank of Tanzania Bans Use of Foreign Currency for Local Transactions
18:54 04.05.2025 (Updated: 12:11 05.05.2025)
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Bank of Tanzania Bans Use of Foreign Currency for Local Transactions
"It is now mandatory that all goods and services offered in Tanzania must be priced and paid for in Tanzanian shillings," the Bank of Tanzania (BoT) said in a statement.
The ban aligns with the government's new regulations issued in late March, according to the BoT.
It is now illegal to:
⦁ quote or advertise prices in foreign currency;
⦁ force, enable, or accept payment in foreign currency;
⦁ refuse payment in Tanzanian shillings.
Foreigners and tourists must exchange currency through banks or licensed bureaus. They can also use cards or digital payments.
"It is now mandatory that all goods and services offered in Tanzania must be priced and paid for in Tanzanian shillings," the Bank of Tanzania (BoT) said in a statement.
The ban aligns with the government's new regulations issued in late March, according to the BoT.
It is now illegal to:
⦁ quote or advertise prices in foreign currency;
⦁ force, enable, or accept payment in foreign currency;
⦁ refuse payment in Tanzanian shillings.
Foreigners and tourists must exchange currency through banks or licensed bureaus. They can also use cards or digital payments.
© telegram sputnik_africa
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