Tanzanian Shilling (TZS)
The Tanzanian shilling was introduced in 1966, replacing the East African shilling at par as Tanzania — then recently unified from Tanganyika and Zanzibar — established its own independent monetary system, following a path similar to Kenya and Uganda.
TZS ⇄ USD Converter
History
Like its neighbors, Tanzania inherited the East African shilling from the British colonial-era East African Currency Board. After the union of Tanganyika and Zanzibar formed Tanzania in 1964, the Bank of Tanzania introduced the country's own shilling in 1966, replacing the East African shilling one-for-one. The currency has since remained a free-floating shilling distinct from those used in neighboring Kenya and Uganda.
Denominations
Tanzanian shilling banknotes currently circulate in these denominations:
- 500, 1,000 shillings — common lower-value notes
- 2,000, 5,000, 10,000 shillings — higher-value notes
Coins are issued in 50, 100, 200, and 500 shillings.
Frequently Asked Questions
What is the currency symbol for the shilling?
It's commonly written as TSh or /=. Its ISO 4217 currency code is TZS.
Is the Tanzanian shilling the same as the Kenyan or Ugandan shilling?
No — although all three descend from the historic East African shilling, Tanzania, Kenya, and Uganda each issue their own distinct, non-interchangeable currency today.
Is the Tanzanian shilling pegged to the US dollar?
No, it floats and its value is set by market conditions, though the Bank of Tanzania monitors and occasionally intervenes to manage volatility.
Where can I see rates for other African currencies?
Check the full currency directory on the African Currencies homepage, which covers all 54 African countries.