Tanzania Currency & USD↔TZS Guide

What is the Tanzanian Shilling?

The Tanzanian Shilling (TZS) is the currency of Tanzania. Banknotes and coins are issued by the Bank of Tanzania (BoT). In practice, everyday prices are quoted in whole shillings.

The shilling is divided into 100 senti, a unit that survives mostly on paper rather than in daily use. Cash prices, mobile-money transfers and bank statements are all stated in whole shillings, and any amount smaller than a shilling is rounded at the point of payment. For a visitor, that means the practical unit is the shilling and there is no need to plan around senti.

How the USD↔TZS rate works

The exchange rate is the number of shillings you get for one US Dollar. It moves with the market and is quoted differently by each bank and forex bureau, so the rate you see online is indicative — your provider adds a small margin.

A rate can be quoted two ways. The mid-market rate sits between what a dealer will pay for dollars and what it will sell them for, and it is the figure published in comparisons. A counter rate is the one a provider will actually transact at, and it works in the provider's favour. The gap between them is the spread, and it is a real cost even when no commission is charged. For that reason the number worth comparing is the total shillings you would receive on the amount you are changing, not the rate printed largest on the board.

Where to exchange money

Banks, bureaux de change (forex bureaus) and mobile-money services all exchange dollars and shillings. For the best rate, compare a couple of providers before converting a large amount.

The three differ in more than price. A bank is convenient if the money is already in an account, a bureau is usually faster for cash, and a mobile-money service is the only one of the three that works without a branch visit. Rates also depend on the amount, so a large exchange is worth asking about rather than accepting the displayed rate, and any provider should be able to say which rate applies to your figure.

Paying in shillings or dollars

Some hotels, tourist businesses and international operators quote prices in US Dollars, and a few accept dollar cash. Everyday purchases — markets, transport, mobile money, utilities and fuel — are priced and paid in shillings. Where a business quotes both, the effective rate is worth checking, because a dollar price converted at a counter rate can cost more than the same item priced in shillings.

Currency converters

Convert between Tanzanian Shillings and the most-searched currencies:

Frequently asked questions