By The Respondent Reporter
The exercise to replace old Tanzanian banknotes, which began on January 6, 2025, is set to conclude on April 5, 2025, the Central Bank (BoT) has announced.
A public notes circulated by BoT says after the date, the old notes will cease to be legal tender and cannot be used for any transactions within the country.
According to the directive, individuals and institutions holding the old notes will no longer be permitted to use them for payments or any form of exchange. Furthermore, all banks across Tanzania will be prohibited from accepting deposits or honoring requests to exchange the withdrawn notes.
Authorities urge the public to complete the exchange process before the deadline to avoid inconvenience. The central bank continues to oversee the exercise and ensure a smooth transition to the new currency series, aimed at strengthening the integrity and security of Tanzania’s financial system.