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Taking a leaf straight from the BRICS playbook, Tanzania announced an official ban on the US dollar in local transactions. The Bank of Tanzania (BoT) has put a blanket ban on all foreign currencies in local transactions, and only the Tanzanian Shillings (TZS) is made legal tender. The ban comes after an influx of foreign currencies circulated the market for local transactions, leaving the TZS behind. Also Read: BRICS: Only 33% of Trade Settled in US Dollars Tanzania is inspired by the BRICS agenda of de-dollarization and is striving to keep the US dollar in the back seat. Individuals, traders, business owners, and large corporations in the country are not allowed to use the US dollar for transactions. The ban includes both receiving and sending foreign currencies, making it a legal offense to initiate the payments. Every individual, bank, and business entity must use the Tanzanian Shillings and not foreign currencies. “Under these Regulations, pricing and payment for all goods and...

The de-dollarization narratives are now gaining immense traction as the world consistently tries to move away from the US dollar. The USD is now standing at a fragile threshold where other noteworthy currencies have started to harass the US dollar. While nations have always planned to ditch the US dollar to promote local currencies, one nation has gathered up the courage to promote its own national benefit, banning the US dollar’s usage across the country. Also Read: Shiba Inu: 2 Major Takeaways of Buying SHIB in 2025 De-Dollarization Begins: This Country Bans USD Source: Edarabia In a landmark decision, Tanzania banned the US dollar’s’s usage in its country a few hours ago. This decision comes at a time when the US dollar is a victim of multiple ominous predictions,, with leading entities stating how the US dollar’s’s doom is finally here. In a new note issued by Tanzanian authorities, a USDSD ban has been put to help their local currency, the Tanzanian Sh...