African country bans use of dollar, euro, others in domestic transactions

Tanzania has officially outlawed the use of foreign currencies in domestic transactions, a sweeping measure aimed at reinforcing the local currency and tightening control over its financial system. The Bank of Tanzania (BoT) announced the decision on May 2, confirming that all payments for goods and services within the country must now be made in Tanzanian shillings. The new rules, which took effect on March 28, prohibit businesses from setting, advertising, or quoting prices in foreign currenci