Bank of Tanzania has enacted a prohibition on utilization of foreign currency

The Bank of Tanzania has enacted a prohibition on the utilization of foreign currencies, including the US dollar, for all domestic transactions and payments within the nation.

This regulation, which was published in the Government Gazette on March 28, 2025, is intended to curb the persistent decline of the Tanzanian shilling. Consequently, all goods and services in Tanzania are now required to be priced and transacted exclusively in Tanzanian Shillings.