USD to TZS for business payments
A foreign buyer paying a Tanzanian exporter should usually pay US dollars to the supplier's own bank in Tanzania, because the Bank of Tanzania's 2022 Foreign Exchange Regulations require export proceeds to arrive there within 90 days. Tanzanian shillings (TZS) are the currency for anything sold inside Tanzania: since 28 March 2025, goods and services in the country must be priced and paid in shillings.
- Under the Bank of Tanzania (BoT) Foreign Exchange Regulations, 2022 (GN 294), as summarized by PKF, export proceeds must be received within 90 days into an account at the exporter's own bank, with export documents given to that bank within 7 days after customs.
- An exporter may sell its foreign currency only to the bank where it holds its account, and banks may not buy foreign currency from exporters whose accounts they do not hold.
- Since 28 March 2025, the Regulations on the Use of Foreign Currency (GN 198 of 2025) require goods and services within Tanzania to be priced and paid in Tanzanian shillings.
- A Tanzanian resident, other than a bank, may not operate a bank account outside Tanzania unless the BoT Governor permits it, apart from accounts used to settle securities in the EAC or SADC.
- Standard Chartered Tanzania lists USD 25 for an incoming international telegraphic transfer, and Azania Bank lists USD 12 for an inward telegraphic transfer.
The Tanzanian shilling at a glance
The Tanzanian shilling (TZS) is issued by the Bank of Tanzania (BoT). The US International Trade Administration describes current account payments and transfers in Tanzania as completely free of restrictions and notes that Tanzania has accepted the IMF's Article VIII obligations, which commit a country not to restrict payments for current international transactions. Within that, two BoT instruments set the rules a supplier lives by: the Foreign Exchange Regulations, 2022 (GN 294 of 13 May 2022) and the Regulations on the Use of Foreign Currency, 2025 (GN 198 of 28 March 2025). The shilling's rate against the dollar changes, so a shilling invoice carries exchange rate risk for a dollar-based buyer.
| Item | Tanzanian shilling |
|---|---|
| Currency code | TZS |
| Issuer | Bank of Tanzania |
| Current payments | Free of restrictions; IMF Article VIII accepted |
| Export proceeds | Within 90 days, into the exporter's own bank; documents within 7 days after customs |
| Selling export dollars | Only to the bank holding the exporter's account |
| Domestic pricing and payment | In shillings since 28 March 2025 |
| Accounts abroad for residents | Only with the Governor's permission, except EAC or SADC securities accounts |
Sources: PKF, Tanzania Foreign Exchange Regulations, 2022; BoT, public notice on the Regulations on the Use of Foreign Currency, 2025; International Trade Administration, Tanzania Country Commercial Guide. Checked on 29 October 2026.
Tanzanian rules that decide how you should pay
The BoT rules sit on the supplier, but each one changes what you should do.
- Pay the supplier's own bank within 90 days. Under GN 294, as summarized by PKF, export proceeds must be received within 90 days into an account at the bank the exporter banks with, and the exporter must give its export documents to that bank within 7 days after customs procedures are completed. PKF's summary does not state what event starts the 90 days, so agree payment terms well inside it.
- Only one bank can buy the dollars. An exporter may sell foreign currency only to the bank where it holds its account. That bank's rate is the supplier's conversion rate.
- No payments to accounts abroad. A resident may not operate a bank account outside Tanzania without the Governor's permission, except accounts used to settle securities in the EAC or SADC. A Tanzanian supplier asking to be paid abroad should show that permission.
- Shillings inside Tanzania. The BoT's public notice of 2 May 2025 states that pricing and payment for all goods and services within the country must be in shillings and that refusing payment in shillings is an offense. Your Tanzanian agent, forwarder or subsidiary pays local costs in shillings.
Our guide to receiving USD in Tanzania covers the supplier's side.
How a payment reaches a Tanzanian supplier
A dollar payment reaches the supplier's Tanzanian bank by SWIFT through the bank's US correspondent. The ITA's Country Commercial Guide lists the US correspondents of major Tanzanian banks, such as Citibank and JP Morgan Chase Bank in New York. Most Tanzanian trading companies hold a shilling account and a USD account at the same bank.
| Route | Supplier receives | Published receiving charge |
|---|---|---|
| SWIFT wire to a USD account | USD, counted toward the 90-day rule | Standard Chartered Tanzania: USD 25; Azania Bank: USD 12 |
| SWIFT wire to a shilling account | TZS, converted at the bank's rate | Bank's rate plus receiving charge |
| Local shilling transfer within Tanzania | TZS | Standard Chartered Tanzania: incoming local telegraphic transfer free |
Sources: Standard Chartered Bank Tanzania, Fees and Charges Guide (effective 1 March 2025), prices including 10% excise duty and 18% VAT; Azania Bank, Fees and Charges 2025, excluding VAT unless stated. Checked on 29 October 2026.
Collect the supplier's registered name, the USD account number (never the shilling account), the bank's full name, branch and SWIFT code, and the US correspondent with its SWIFT code. Check codes with our SWIFT code lookup.
What converting USD to TZS costs
If you convert dollars to shillings, the cost is the mid-market rate, the midpoint between buying and selling prices at that moment, plus the margin your provider adds, plus its fee. If you pay dollars, the supplier pays a flat receiving charge, USD 25 at Standard Chartered or USD 12 at Azania Bank, which is the same on $1,000 as on $100,000, and later converts only through its own bank. Intermediary banks can deduct fees from a wire sent with shared charges, so send with OUR charges when the supplier must receive the full amount.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay a Tanzanian supplier in USD or TZS?
- Pay USD for exports, to the supplier's USD account at its own Tanzanian bank, within 90 days. The rules are built around this route.
- Pay TZS for anything sold inside Tanzania, such as local logistics, warehousing or a Tanzanian agent, because domestic pricing and payment must be in shillings.
- Do not pay an account abroad unless the supplier shows the Governor's permission.
Tanzanian importers on the other side of the trade can read our guide to paying Chinese suppliers from Tanzania.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
How long does a Tanzanian exporter have to receive payment?
Under the Foreign Exchange Regulations, 2022, as summarized by PKF, export proceeds must be received within 90 days into an account at the exporter's own bank, with export documents given to that bank within 7 days after customs.
Can I pay a Tanzanian supplier in US dollars?
Yes, for exports, into its USD account at its Tanzanian bank. Inside Tanzania, goods and services must be priced and paid in shillings under the Regulations on the Use of Foreign Currency, 2025.
Can a Tanzanian supplier sell my dollars to any bank?
No. An exporter may sell foreign currency only to the bank where it holds its account, and banks may not buy foreign currency from exporters whose accounts they do not hold.
Can I pay a Tanzanian supplier's account abroad?
Only if it has permission. A Tanzanian resident, other than a bank, may not operate a bank account outside Tanzania unless the BoT Governor permits it, apart from EAC or SADC securities settlement accounts.
What does a Tanzanian bank charge to receive a wire?
Standard Chartered Tanzania lists USD 25 for an incoming international telegraphic transfer, including excise duty and VAT, and Azania Bank lists USD 12 for an inward telegraphic transfer.
What does Helm charge to pay a supplier in Tanzania?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- PKF: Tanzania Foreign Exchange Regulations, 2022 (GN 294)
- Bank of Tanzania: Public notice on the Regulations on the Use of Foreign Currency, 2025 (2 May 2025)
- International Trade Administration: Tanzania Country Commercial Guide, Trade Financing
- Standard Chartered Bank Tanzania: Fees and Charges Guide (effective 1 March 2025)
- Azania Bank: Fees and Charges 2025
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.