Tanzania Currency:Complete Guide for first time Visitors
Tanzania is one of the most beautiful countries in East Africa, known for its stunning wildlife, Mount Kilimanjaro, Zanzibar’s white sandy beaches, and rich cultural heritage. Whether you are planning a vacation, starting a business, investing, or simply curious about the country’s financial system, understanding the Tanzania currency is essential.
The official currency of Tanzania is the Tanzanian Shilling (TZS). It is used for almost every daily transaction across mainland Tanzania and Zanzibar. From buying food at local markets to paying for hotels, transportation, shopping, and national park entrance fees, the Tanzanian Shilling plays a major role in everyday life.
In this complete guide, you will learn everything about the Tanzania currency, including its history, denominations, exchange rates, where to exchange money, payment methods, travel tips, and frequently asked questions. This easy to read guide is designed to help tourists, business owners, students, and anyone interested in Tanzania’s economy make informed financial decisions.
What Is the Official Currency of Tanzania?
The official currency of Tanzania is the Tanzanian Shilling, commonly abbreviated as TZS and represented by the symbol TSh.
The Tanzanian Shilling has been the country’s official currency since 1966 when it replaced the East African Shilling after Tanzania gained economic independence. Today, it remains the legal tender throughout Tanzania, including both the mainland and Zanzibar.
Almost every local business accepts Tanzanian Shillings. While some hotels, safari operators, and tourist attractions may accept US Dollars, local transportation, restaurants, markets, and small shops usually require payment in Tanzanian Shillings. Therefore, carrying local currency is highly recommended for daily expenses.
History of the Tanzanian Shilling
The Tanzanian Shilling has an interesting history that reflects the country’s development.
Before independence, Tanzania used the East African Shilling, which was shared by several East African countries. In 1966, Tanzania introduced its own national currency to strengthen economic independence and establish a unique monetary system.
Since then, the currency has undergone several updates. New banknotes and coins have been introduced with improved security features to reduce counterfeiting. The designs also celebrate Tanzania’s wildlife, culture, historical figures, and national landmarks.
Over the decades, the Tanzanian Shilling has remained an important part of the country’s growing economy and continues to support trade, tourism, agriculture, mining, and manufacturing.
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Tanzanian Shilling Symbol and Currency Code
The Tanzanian Shilling is recognized internationally through:
- Currency Name: Tanzanian Shilling
- Currency Code: TZS
- Currency Symbol: TSh
For example:
- TSh 5,000
- TSh 10,000
- TSh 20,000
The ISO currency code “TZS” is used by banks, exchange services, airlines, hotels, and international money transfer companies worldwide.
Tanzanian Banknotes
Tanzania uses several banknote denominations for everyday transactions.
Common banknotes include:
- 500 TSh
- 1,000 TSh
- 2,000 TSh
- 5,000 TSh
- 10,000 TSh
Each banknote has unique colors, images, and security features that make them easy to identify and difficult to counterfeit.
Tanzanian Coins
Coins are used for smaller transactions.
Common coin denominations include:
- 50 cents
- 100 TSh
- 200 TSh
- 500 TSh
Although smaller-value coins still exist, many businesses round prices because inflation has reduced the purchasing power of very small denominations.
Tanzania Currency Exchange Rate
The value of the Tanzanian Shilling changes regularly due to international currency markets.
The exchange rate depends on:
- Global economic conditions
- Inflation
- Supply and demand
- Foreign investment
- Tourism
- International trade
For this reason, travelers should always check the latest exchange rate before exchanging money.
Banks and licensed foreign exchange bureaus usually offer better exchange rates than airports or hotels.
Can You Use US Dollars in Tanzania?
Yes, US Dollars are accepted in some places, especially those serving international tourists.
Examples include:
- Luxury hotels
- Safari companies
- International tour operators
- Some beach resorts
- National park fees
However, most local businesses prefer Tanzanian Shillings.
Street vendors, local restaurants, buses, taxis, and neighborhood shops often accept only local currency. Carrying Tanzanian Shillings makes daily purchases much easier.
Best Places to Exchange Money in Tanzania
Banks
Commercial banks provide secure currency exchange services with competitive rates.
Banks are ideal for exchanging larger amounts because transactions are regulated and receipts are provided.
Airports
International airports provide exchange services for arriving travelers.
Although convenient, airport exchange counters often charge higher fees and offer less favorable exchange rates.
Hotels
Some hotels exchange foreign currency for guests.
However, hotel rates are usually less competitive than banks or licensed forex bureaus.
Are ATMs Available in Tanzania?
Yes.
ATMs are widely available in major cities and tourist destinations.
You can find ATMs at:
- Banks
- Shopping centers
- Airports
- City centers
International bank cards generally work at most ATMs displaying Visa or Mastercard logos.
Before traveling, confirm with your bank that your card works internationally and check any withdrawal fees.
Tips for Tourists Using Tanzania Currency
Managing money wisely can make your trip smoother and safer.
Useful tips include:
- Exchange money only at licensed locations.
- Carry small notes for markets and taxis.
- Keep cash in separate places.
- Avoid carrying large amounts of money.
- Use hotel safes for extra cash.
- Inform your bank before international travel.
- Keep receipts from currency exchanges.
- Compare exchange rates before converting money.
These simple habits help travelers avoid unnecessary costs and enjoy a stress-free experience.
Tanzania Currency and Tourism
Tourism is one of Tanzania’s largest sources of foreign income.
Millions of visitors exchange foreign currencies into Tanzanian Shillings each year while visiting attractions such as:
- Serengeti National Park
- Mount Kilimanjaro
- Zanzibar
- Ngorongoro Crater
- Tarangire National Park
Tourist spending supports hotels, restaurants, transportation companies, local artisans, guides, and thousands of small businesses across the country.
Can You Exchange Tanzanian Shillings Outside Tanzania?
Exchanging Tanzanian Shillings abroad can sometimes be difficult because it is not a widely traded international currency.
Many travelers find it easier to:
- Exchange money before leaving Tanzania.
- Use ATMs after arriving in the country.
- Carry major foreign currencies such as US Dollars for emergency exchanges.
Planning ahead can help you avoid unfavorable exchange rates after your trip.
Frequently Asked Questions
What is the currency of Tanzania?
The official currency is the Tanzanian Shilling (TZS).
Is the Tanzanian Shilling used in Zanzibar?
Yes. The Tanzanian Shilling is the official currency in both mainland Tanzania and Zanzibar.
Can tourists use US Dollars?
Yes, many tourist businesses accept US Dollars, but Tanzanian Shillings are preferred for everyday purchases.
Are ATMs easy to find?
Yes. ATMs are available in most cities and tourist destinations.
Can I use my credit card?
Yes, especially in hotels, supermarkets, restaurants, and shopping malls. However, cash is still important for smaller businesses.
Should I exchange money before traveling?
It is usually best to exchange a small amount before arrival and convert more money at licensed banks or forex bureaus in Tanzania for competitive rates.