The Bank of Tanzania published a public notice on the Government’s Regulations on the Use of Foreign Currency, 2025, which require that prices and payments for all goods and services within Tanzania be made in Tanzanian shillings. The notice sets out that using foreign currency for local pricing and settlement is prohibited and treated as an offence. Under the Regulations, it is an offence to quote, advertise, or indicate prices in foreign currency, to compel, facilitate, or accept payment in foreign currency, or to refuse payment made in Tanzanian shillings. The framework also identifies transactions that may still be conducted in foreign currency, places a time limit on contracts executed in foreign currency, and prohibits entering into or renewing contracts that require foreign-currency payments with effect from 28 March 2025. Foreigners, including tourists, must exchange foreign currency through commercial banks or bureaux de change in Tanzania, while continuing to be able to pay by bank cards or other digital payment methods. The Regulations were published in Government Gazette No. 198 dated 28 March 2025, and the Bank encouraged the public to report suspected violations to the Bank of Tanzania, the Financial Intelligence Unit, the Police Force, or other relevant law enforcement authorities for action.
Bank of Tanzania 2025-05-02
Bank of Tanzania reinforces Tanzanian shilling-only pricing and payments for domestic transactions
The Bank of Tanzania issued regulations mandating that all goods and services within Tanzania be priced and paid for in Tanzanian shillings, prohibiting the use of foreign currency for local transactions. Exceptions exist for certain transactions, but contracts requiring foreign-currency payments are banned from 28 March 2025. Foreigners must exchange currency through banks or bureaux de change, though digital payments remain permissible.