NEW CURRENCY

In a move to control the black market and bring money back into the official economy the Government announced at the end of July that existing 100 shilling notes would no longer be legal tender. Up to 10,000 shillings, equivalent to about £435 at the official rate of exchange, could be changed into new notes during the five day change-over period. Sums greater than this had to be deposited in a Bank account which would be scrutinised. Baggage of people arriving in Tanzania was carefully searched.

RSS feed for comments on this post · TrackBack URL

Leave a Comment

You must be logged in to post a comment.