{"id":88699,"date":"2023-06-20T20:29:42","date_gmt":"2023-06-20T20:29:42","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments"},"modified":"2023-06-20T20:39:14","modified_gmt":"2023-06-20T20:39:14","slug":"tanzanias-central-bank-bans-dollar-payments","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments","title":{"rendered":"Tanzania\u2019s Central Bank bans dollar payments"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Tanzania. <\/strong><\/span>TANZANIA\u2019S Central Bank (BoT) ordered business entities on Tuesday to stop transacting in US dollars and insisted all prices be given in local Tanzanian Shillings.<\/p>\n<p>The central bank\u2019s decision is designed to further strengthen control of foreign currency flows which are seriously dominating real estate, health, transport, logistics and education transactions.<\/p>\n<p>Stern measures will be taken against anyone who continues with such practice, it insisted.<\/p>\n<p>The Governor of BOT, Emmanuel Tutuba said on Tuesday that the bank has recently observed the violation of the directives that was issued in August 2007 and December 2017 prohibiting domestic payments for goods and services using foreign currencies for Tanzania nationals.<\/p>\n<p>However, the Central Bank added that tourists or non-resident customers may pay for various goods and services be transacted using foreign currency.<\/p>\n<p>\u201cThis includes services such as accommodation, travel, airport and visa, transit trade and cargo handling. Tourists and non-residents who pay in foreign currencies must provide their identification documents such as passports and certificate of incorporation for companies for proper capturing and classification of statistics,\u201d the statement read.<\/p>\n<p>The Bank of Tanzania further stated that the exchange rate which will be used for making payment therein above should be displayed and should not exceed the prevailing market exchange rate.<\/p>\n<p>Equally, the Central Bank emphasized that all Tanzania citizens should use only Tanzania Shillings and should not be forced or obliged to make payment to another Tanzania resident using foreign currency.<\/p>\n<p>\u201cThe Bank of Tanzania also wishes to remind the public that section 26 of BOT Act 2006 stipulates that the Tanzania shilling is the only legal tender in the country. Therefore, any act of refusing payment in Tanzania shilling amounts to violation of the BOT law,\u201d part of the statement read.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/tanzania\">Tanzania<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Tanzania. TANZANIA\u2019S Central Bank (BoT) ordered business entities on Tuesday to stop transacting in US dollars and insisted all prices be given in local Tanzanian Shillings. The central bank\u2019s decision is designed to further strengthen control of foreign currency flows which are seriously dominating real estate, health, transport, logistics and education transactions. Stern [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":88698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-88699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tanzania\u2019s Central Bank bans dollar payments - Tanzania<\/title>\n<meta name=\"description\" content=\"TANZANIA\u2019S Central Bank (BoT) ordered business entities on Tuesday to stop transacting in US dollars and insisted all pr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanzania\u2019s Central Bank bans dollar payments\" \/>\n<meta property=\"og:description\" content=\"TANZANIA\u2019S Central Bank (BoT) ordered business entities on Tuesday to stop transacting in US dollars and insisted all pr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-20T20:29:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-20T20:39:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/06\/sm_1687277288.340664.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tanzania\u2019s Central Bank bans dollar payments\",\"datePublished\":\"2023-06-20T20:29:42+00:00\",\"dateModified\":\"2023-06-20T20:39:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments\"},\"wordCount\":306,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/06\/sm_1687277288.340664.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanzanias-central-bank-bans-dollar-payments\",\"name\":\"Tanzania\u2019s Central Bank bans dollar payments - 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