Currency in Tanzania: TZS Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Tanzania with the Tanzanian shilling.
What's in this Tanzania currency guide?
What currency is used in Tanzania?
The official currency of Tanzania (country code: TZ) is the Tanzanian shilling, with symbol and currency code TZS.
What is a good Tanzanian shilling exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the Tanzanian shilling
Here are some things you might want to know about the Tanzanian shilling:
- The Tanzanian shilling is the official currency of Tanzania. It is represented by the symbol "Sh" and is abbreviated as TZS.
- The shilling was introduced in 1966, replacing the East African shilling. It is divided into 100 cents.
- The physical currency consists of coins and banknotes. The coins come in denominations of 1, 5, 10, 20, and 50 cents, and 1, 5, and 10 shillings. The banknotes come in denominations of 10, 20, 50, 100, 200, 500, and 1,000 shillings.
- The banknotes feature images of famous Tanzanian historical figures, such as Mwalimu Julius Nyerere and Sheikh Abeid Amani Karume. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
- The value of the shilling has fluctuated over time, due to factors such as inflation and economic instability in the country. In recent years, the value of the shilling has been relatively stable, although it has depreciated against the US dollar due to the country's high rate of inflation.
For more TZS information check out our selection of Tanzanian shilling news and guides.
Frequently Asked Questions
What currency should I use in Tanzania?
The domestic currency in Tanzania is the Tanzanian shilling.
What is the Tanzanian shilling currency code and symbol?
The three letter currency code for the Tanzanian shilling is TZS.
Which countries use the Tanzanian shilling?
It is the domestic currency in Tanzania.
Is the Tanzanian shilling a closed currency?
No, the Tanzanian shilling is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of GMD and TZS?
Here are some popular conversion amounts for GMD to TZS (Gambian dalasi to Tanzanian shilling)*.
*Converted at the current GMDTZS interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Tanzania
Using Wise for Tanzanian shilling travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Tanzanian shilling otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Tanzanian shilling cash before departure, you can save money by ordering online. You generally get better rates and can pick up the TZS cash locally or even on travel day at the airport.
Tanzania: Travel Guide
Traveling to Tanzania requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
Tanzania is synonymous with iconic destinations like the Serengeti, Mount Kilimanjaro, and Zanzibar. Known for its stunning landscapes, incredible wildlife, and warm Swahili culture, it attracts visitors from around the globe for safaris and adventures in some of the world’s finest national parks.
Currency in Tanzania
The local currency is the Tanzanian Shilling (Tzs), but US Dollars are widely accepted, especially in hotels, for tours, and at tourist-oriented establishments. Many businesses quote prices in USD, so it’s useful to carry both currencies.
For local expenses such as markets, bus tickets, and dining at local restaurants, shillings are essential. Money can be exchanged at banks or forex bureaus (Bureau de Change), which offer better rates than hotels. Avoid street money changers, as scams are common. Banking hours are typically 8:30 AM to 12:30 PM on weekdays, with extended hours in larger towns.
Credit Cards in Tanzania
Credit cards, especially Visa, are widely accepted in tourist hubs like Arusha, Dar es Salaam, and Zanzibar, as well as in upscale hotels and shops. Mastercard and American Express are less common but still usable in certain locations. ATMs in cities like Dar es Salaam, Arusha, and Mwanza allow cash withdrawals. Outside these areas, credit card use is limited, so it’s best to carry cash as your primary payment option.
Getting Around in Tanzania
- Air Travel: Most international flights land in Dar es Salaam. Domestic airlines connect to other destinations like Arusha and Kilimanjaro, but delays and cancellations are frequent. Flights to smaller towns, such as Kigoma, may not always be available.
- Taxis: Registered taxis in Dar es Salaam are identifiable by a yellow stripe and three-digit number. Agree on a flat fare with the driver beforehand. A typical fare from the airport costs around 50,000 Tsh.
- Overland Buses: Long-distance buses are economical but often uncomfortable due to poor road conditions.
- Local Transport: Dala dalas (local minibuses) are an inexpensive option at 500 Tsh per ride, though basic Swahili can be helpful for navigating this system.
- Trains: Trains connect Dar es Salaam to Mwanza and Kigoma via Tabora, and another line runs to Zambia. They offer a safer and more comfortable alternative to buses but are known for delays, so plan accordingly.
Tips for Travel in Tanzania
- Be Prepared for Delays: Whether flying domestically or traveling by train, delays are common. Flexibility in your schedule is key.
- Cash is Essential: Carry Tanzanian shillings for smaller transactions and USD for larger expenses.
- Road Conditions: Overland travel can be challenging due to poor infrastructure, so choose your transportation method wisely.
With its breathtaking scenery and rich cultural experiences, Tanzania offers unforgettable adventures, whether you're exploring its wilderness, climbing Kilimanjaro, or relaxing on Zanzibar’s pristine beaches.
Everyday Costs in in Tanzania
How much does it really cost to live, work, or travel in Tanzania? Here's what to expect for daily expenses and expat living.
Currency Guide for Tanzania (ISO Code: TZ)
For travelers planning a one-week stay in Tanzania, a budget of approximately 600,000 to 1,000,000 Tanzanian Shillings (TZS) should suffice for a comfortable mid-range experience. This amount allows for a balance between local excursions, meals, and accommodation. Here’s a quick snapshot of typical daily expenses one might encounter in Tanzania:
- 🍽️ Meal at a local restaurant: 20,000 TZS
- ☕ Coffee (local café): 4,000 TZS
- 🚍 Public transport fare: 1,500 TZS
- 📱 Prepaid SIM card: 10,000 TZS (for basic internet)
- 🏨 Budget hotel or Airbnb: 80,000 - 150,000 TZS per night
Overall, Tanzania is generally considered an affordable destination when compared with the United States and the UK. The cost of visiting is significantly lower; for example, a similar mid-range stay in the US could easily reach $1,500 (3,500,000 TZS) or more, especially in tourist-heavy areas, while a trip to the UK may entail costs upwards of £1,000 (3,000,000 TZS) for a week.
Insights for Expats in Tanzania
For expatriates residing in Tanzania, typical monthly living costs range from 1,500,000 to 2,500,000 TZS, depending on lifestyle preferences. This budget encompasses rent for a modest apartment, utilities, food, and transportation. Navigating financial transactions can be straightforward, as major cities host several banks and ATMs; however, it’s advisable to use local banks for stable transactions. Card usage is becoming more widespread in urban areas, but many local markets and smaller businesses may prefer cash, so always have some TZS on hand.
When it comes to money management, expats may find it beneficial to use online transfer services like Wise or OFX for sending and receiving funds. These platforms typically offer better exchange rates and lower fees than traditional banks. That said, for day-to-day expenses, it’s best to exchange money locally, particularly in larger amounts, to avoid unfavorable rates that might be encountered with international debit cards. Overall, a mix of both approaches—keeping cash on hand while utilizing digital services for larger transactions—can ensure a smoother financial experience in Tanzania.
USD/TZS Market Data
The below interactive chart displays the USD/TZS change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Tanzania - Best Rates
To get a good (and fair) exchange rate when sending money to Tanzania you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Tanzania
When sending money to Tanzania it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Tanzanian shilling amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted TZS amount will be transfered to the recipient account you specify in Tanzania.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Tanzanian shilling deposited into the recipient bank account and less margins and fees kept by the banks!