Tanzania’s central bank said in a statement late Friday that it has prohibited the use of foreign currency for local transactions and payments.
The Bank of Tanzania (BoT) said, under regulations issued by the government in 2025, pricing and payment for all goods and services within the country must be made in Tanzanian shillings.
The statement, signed by BoT Governor Emmanuel Tutuba, said the regulations also specify transactions that are permitted to be conducted in foreign currency.
It said foreigners, including tourists, are required to exchange foreign currency at commercial banks or exchange bureaus in Tanzania. They can still pay with bank cards or other digital methods.
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.
Tanzania officially prohibits the use of foreign currencies, including the U.S. dollar, for all domestic transactions and pricing. Under the Bank of Tanzania Act, all goods and services must be priced, advertised, and paid for exclusively in Tanzanian Shillings (TZS).
Here are the Key Details of the Regulations:
- The regulations were published in Government Gazette No. 198 and are designed to stabilize the local currency and enforce monetary sovereignty.
- It is an offense to demand, accept, quote, or advertise prices in foreign currencies.
- Existing contracts that were previously denominated in foreign currencies were required to be converted to Tanzanian Shillings, with a legal compliance deadline of March 27, 2026, unless extended by the Minister of Finance
Here are the Rules for Travelers and Foreigners to comply by:
- Tourists and foreign visitors must exchange foreign currency for local currency at commercial banks or licensed Bureaux de Change.
- Foreigners are still legally permitted to pay for eligible services using credit/debit cards or other authorized digital payment methods.
- Certain specific transactions and international bookings permitted under the law can still be conducted in foreign currency
Download the official Statement here. Click Here
Source: Bank of Tanzania (BoT)
