The Tanzanian shilling continues to be the only legal money in the nation, according to central bank governor Emmanuel Tutuba. In August 2007 and again in December 2017, the Tanzanian government outlawed the usage of the US currency.
The Bank of Tanzania (BoT) has instructed firms in the country to stop pricing products and services in dollars, stressing that doing so is against regulatory requirements and will relieve pressure on the local currency.
Recent months have seen an upsurge in the demand for foreign exchange, particularly in the real estate, healthcare, transportation, and educational sectors as companies seek to protect themselves against a depreciating local currency.
