Tanzania’s central bank has announced a ban on the use of foreign currencies for domestic transactions and payments, under new regulations aimed at reinforcing the use of the Tanzanian shilling.
In a statement issued and signed by Governor Emmanuel Tutuba, the Bank of Tanzania (BoT) said the directive follows the publication of the Regulations on the Use of Foreign Currency, 2025, in Government Gazette No. 198, dated 28 March 2025.
Under the new rules, all pricing and payment for goods and services within the United Republic of Tanzania must be done in Tanzanian shillings. It is now an offence to quote, advertise, or demand payment in any foreign currency for local transactions.
However, the BoT noted that certain transactions may still be conducted in foreign currency, as specified under the regulations. Contracts involving foreign currency are now subject to a time limit, and no new contracts requiring foreign currency payments can be entered into or renewed as of 28 March 2025.
Foreigners, including tourists, are required to exchange foreign currency at commercial banks or licensed Bureau de Change outlets. They may also continue to use bank cards or other digital payment methods for purchases.
The BoT also urged the public to report any violation of these regulations to the central bank through the Financial Intelligence Unit, the police, or any other law enforcement authority for appropriate action.
