The National Bank of Tanzania banned the use of foreign currencies, including the American dollar, to settle national transactions and payments. Foreigners, also tourists, must mention foreign currencies in commercial banks or exchange offices in Tanzania.
About the new regulations Central Bank Tanzania informed in an official statement.
All goods and services in Tanzania must now be priced and paid only in Tanzanian shillings. Although tourists can still pay with bank cards.
The bank also called on the inhabitants of Tanzania to inform financial intelligence officials or police about any violations of the provisions announced.
Dar es Salaam – the largest city in Tanzania.Shutterstock
Dollar position in Africa
Most African countries have already banned the use of a dollar on their local market. But there are exceptions, in Liberia it is considered a parallel currency and most stores for payment in the United States currency offer 10 % discount Also in Zimbabwe, dollar is widespread, due to the very unstable position of the local currency, Zimbabwe Gold (ZIG). The government in Harare plans to withdraw the dollar and make ZIG the only currency until 2030.
On the entire continent, almost all key goods imported – oil, wheat and medicines – are valued and paid in dollars. International loans are granted in dollars, trade between African countries is settled in dollars, and even fuel price Depends on the value of this currency.
On the other hand, each interest rate increases Introduced by the American federal reserve, it exerts significant pressure on African public debt. In Sub -Saharan Africa, about 40 percent This debt comes from the outside, of which over 60 percent. It is denominated in dollars, in accordance with the data of the International Monetary Fund.
Source of the main photo: Shutterstock