Currency Rate
Tanzanian Shilling to USD
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Buying rate
TZS 0.000328
Selling rate
TZS0.000422
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The Tanzanian shilling (symbol: TSh; code: TZS) is the official currency of Tanzania.
Currency Details
- Country code TZ
- Symbol TZS
- ISO Code TZS
- Subunits 1 Shilling = 100 Cents
Coins
- 50 cents
- 1 shilling
- 5 shillings
- 10 shillings
- 20 shillings
- 50 shillings
- 100 shillings
- 200 shillings
Banknotes
- 500 shillings
- 1000 shillings
- 2000 shillings
- 5000 shillings
- 10000 shillings
The Tanzanian Shilling, abbreviated as TZS, is the official currency of Tanzania. Symbolized as "TSh", it is subdivided into 100 senti, though inflation has made senti coins obsolete. Introduced in 1966, the shilling replaced the East African shilling at par, marking Tanzania's economic independence after unification with Zanzibar.
History and Background
The shilling's history reflects Tanzania's journey from colonial rule to African socialism and eventual market economy. The 1966 currency featured President Julius Nyerere, the "Father of the Nation." Following economic liberalization in the 1990s, new banknote series highlighted Tanzania's wildlife (elephants, lions) and industries (cotton, coffee). The most recent 2020 series showcases national landmarks like Mount Kilimanjaro and the Zanzibar Stone Town, printed on durable polymer.
The shilling's history reflects Tanzania's journey from colonial rule to African socialism and eventual market economy. The 1966 currency featured President Julius Nyerere, the "Father of the Nation." Following economic liberalization in the 1990s, new banknote series highlighted Tanzania's wildlife (elephants, lions) and industries (cotton, coffee). The most recent 2020 series showcases national landmarks like Mount Kilimanjaro and the Zanzibar Stone Town, printed on durable polymer.
Economic Significance
Managed by the Bank of Tanzania, the shilling operates under a managed float system. Key economic drivers influencing its value include: • Gold exports (Africa's 4th largest producer) • Tourism revenue from safaris and Zanzibar beaches • Agriculture (cashews, coffee, cloves) While relatively stable compared to neighboring currencies, the shilling faces pressure from dollar demand for imports. Tanzania's natural gas discoveries may future impact currency valuation.
Managed by the Bank of Tanzania, the shilling operates under a managed float system. Key economic drivers influencing its value include: • Gold exports (Africa's 4th largest producer) • Tourism revenue from safaris and Zanzibar beaches • Agriculture (cashews, coffee, cloves) While relatively stable compared to neighboring currencies, the shilling faces pressure from dollar demand for imports. Tanzania's natural gas discoveries may future impact currency valuation.
Usage and Exchange
The shilling dominates daily transactions, though US dollars are accepted in tourist areas (national parks, Zanzibar). Practical tips for visitors: • Exchange money at Dar es Salaam or Arusha forex bureaus (better rates than hotels) • Carry smaller denominations (TSh 500-10,000 notes) for markets and rural areas • Mobile money (M-Pesa) is widely used - even street vendors accept digital payments • Current series notes feature Braille markings for the visually impaired
Conclusion The Tanzanian shilling embodies the nation's blend of wilderness and urban growth. From the Serengeti's safari lodges to Dar es Salaam's bustling markets, handling shillings connects visitors to Tanzania's economic realities. As the country balances resource wealth with development needs, its currency remains both a practical tool and a canvas displaying Tanzania's natural and cultural treasures.
The shilling dominates daily transactions, though US dollars are accepted in tourist areas (national parks, Zanzibar). Practical tips for visitors: • Exchange money at Dar es Salaam or Arusha forex bureaus (better rates than hotels) • Carry smaller denominations (TSh 500-10,000 notes) for markets and rural areas • Mobile money (M-Pesa) is widely used - even street vendors accept digital payments • Current series notes feature Braille markings for the visually impaired
Conclusion The Tanzanian shilling embodies the nation's blend of wilderness and urban growth. From the Serengeti's safari lodges to Dar es Salaam's bustling markets, handling shillings connects visitors to Tanzania's economic realities. As the country balances resource wealth with development needs, its currency remains both a practical tool and a canvas displaying Tanzania's natural and cultural treasures.