(Foreign currency to be used for very exceptional circumstances e.g for prices which target tourists).
The Minister for Finance and Planning Hon. Dr. Philip Isdor Mpango has directed that the new status for using foreign currency in Tanzania should be in force by 1st January, 2018.Those directions include the following ;
1.All Prices in Tanzania be advertised in Tanzania Shilling, these includes house and office rents,educational and medical cost, motor vehicle and electronic.
2.Prices which target Tourists or non-residents may be advertised and paid in foreign currency. These prices include transportation costs, air transport, Visa and hotel costs for foreign tourists. Those who pay via foreign currency should be identified through their Identity cards such as passport and documents relating to incorporation of a company.
3.Exchange rate which will be used for the aforementioned prices should be displayed and they should not exceed the market rate. It should come into your attention that institutions which are vested Power to arrange exchange rate are Banks and Bureau de Change only, this is due to foreign currency market competition.
4.Any Tanzanian resident should not be compelled to effect payment for any service in Tanzania through foreign currency.
Dr. Mpango has directed that state apparatus should effect legal actions for any person Who will contravene the above directions.
