TZSTanzanian ShillingTanzanian Shilling (TZS)
The Tanzanian shilling is Tanzania's national currency and an East African unit serving a large domestic market and regional trade network.
- ISO code
- TZS
- Symbol
- TSh
- Region
- Africa
- Currency type
- Fiat currency
- Exchange system
- The Bank of Tanzania issues the national currency and manages monetary and foreign-exchange policy for the mainland and Zanzibar.
- Last reviewed
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Quick facts
TZS at a glance
Currency profile
How TZS works
The Tanzanian shilling is Tanzania's national currency and an East African unit serving a large domestic market and regional trade network.
The Bank of Tanzania issues the national currency and manages monetary and foreign-exchange policy for the mainland and Zanzibar.
- TZS is formally divided into 100 cents, although ordinary prices are generally expressed in whole shillings.
- The Tanzanian shilling replaced the shared East African shilling at parity in 1966.
Context
Why this currency matters
TZS serves both a large national economy and trade corridors connecting landlocked neighbors with Indian Ocean ports. Its 1966 introduction marks the shift from a shared East African currency to a national system, while current use spans cash, banking and mobile payments.
Monetary framework
Exchange arrangement
The Bank of Tanzania issues the national currency and manages monetary and foreign-exchange policy for the mainland and Zanzibar.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for TZS
Bank of Tanzania established
The central bank began operations as Tanzania created its independent monetary framework.
Bank of Tanzania - historyTanzanian shilling introduced
TZS replaced the East African shilling at parity as the national currency.
Bank of Tanzania - historyCurrent banknote series launched
The Bank of Tanzania introduced redesigned notes with updated security features.
Bank of Tanzania - history
Usage and economy
How TZS is used
- Prices, payroll, taxes and payments throughout Tanzania.
- East African comparisons involving KES, UGX, RWF and ZMW.
Country currency guides
Banknotes and coins
TZS currency units
The Bank of Tanzania publishes current shilling banknote denominations and security information.
The Bank of Tanzania documents Tanzanian shilling circulation coins.
One Tanzanian Shilling unit is recorded with 2 decimal places and uses Cent as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
TZS questions
What currency did TZS replace?
The Tanzanian shilling replaced the East African shilling at parity in 1966.
Why is TZS important in regional trade?
Tanzania links several inland East African economies to Indian Ocean transport corridors and ports.
Is TZS the same as KES or UGX?
No. Tanzania, Kenya and Uganda issue separate shillings with different ISO codes and exchange rates.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.