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.
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De-Dollarization Begins: This Country Bans USD
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 Shilling, to rise up in value and gain further market traction.
The Bank of Tanzania announced these fresh measures on May 2, clarifying the extent of the US dollar ban. is ban is a part of a new governmental regime, which came into effect on March 28. The rules related to the USD ban states how Tanzanian civilians will not be able to set, advertise, or quote prices in foreign currencies, including the US dollar.
“The Bank of Tanzania wishes to inform the public that. In accordance with the provisions of Section 26 of the Bank of Tanzania Act, 2006, the Government has issued the Regulations on the Use of Foreign Currency, 2025. The regulations were published in the Government Gazette No. 198, dated 28th March 2025. Under these regulations, pricing and payment for all goods and services within the country must be in Tanzanian shillings. Therefore, it is an offense to quote, advertise, or indicate prices in foreign currency. To compel, facilitate, or accept payment in foreign currency; or to refuse payment made in Tanzanian shillings.”
Progressive African countries are banning the use of the US dollar in their economies. This is what is expected of proper economics. Well done Tanzania. pic.twitter.com/u2kaa6inAq
— Bla B (@bla_bidza) May 6, 2025
However, the regulations also specify a few transactions that can be conducted in foreign currency.
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Local Currency Supremacy Returns
The Bank of Tanzania has taken this step to boost its local currency. The Tanzanian shilling has performed quite well against the US dollar in the past. But the currency has now noted a steep decline, compelling the BoT to intervene officially.
“The move comes as the shilling weakens in 2025 after being one of the world’s strongest currencies in late 2024.” As shared by the Ecofin Agency.
These major hits are the elements that are primarily driving the de-dollarization agendas across the globe. With entities like Deutsche Bank and Goldman Sachs predicting further US dollar decline, investors have already pivoted to other safe haven assets like Bitcoin and gold to protect their investments.
Bernstein: "We expect ~$330Bn corporate treasury led inflows to Bitcoin by 2029E.
— matthew sigel, recovering CFA (@matthew_sigel) May 5, 2025
Over the next 5 years (CY25E-29E), we expect listed corporates to allocate ~$205Bn capital for Bitcoin acquisition, led by small-low growth companies, trying to emulate MSTR’s Bitcoin treasury… pic.twitter.com/RPgXkLG1Gt
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