Tanzania and India are able to conduct business using their respective currencies, the Tanzanian shilling and the Indian rupee, thanks to a bilateral trade settlement agreement.
Tanzania and India have reached an agreement that will make the US dollar no longer be required for trade between the two nations.
According to Binaya Pradhan, the Indian High Commissioner to Tanzania, between April 2021 and March 2022, India’s exports to Tanzania totaled $2.3 billion (or about Sh5.3 trillion), while its imports from the East African country were estimated to be $2.2 billion (about Sh5.1 trillion).
