Tanzanian Shilling flag

Tanzanian Shilling

Shilingi

Currency Code

TZS

ISO 834

Symbol

TZS

Native: TSh

Decimal Digits

2

Rounding: 0

Countries

TZ

Using this currency

Currency Units

Major Unit

Name: shilling

Symbol: TSh

Minor Unit

Name: cent

Symbol:

Value: 0.01

Banknotes

Frequently Used

TSh500TSh1000TSh2000TSh5000TSh10000

Coins

Frequently Used

TSh50TSh100TSh200TSh500

Plural Forms

English Plural

Tanzanian shillings

Native Plural

Shilingi

Overview

The Tanzanian Shilling is the currency of Tanzania, managed by the Bank of Tanzania. It serves East Africa's second-largest economy, which is based on agriculture, mining, and tourism.

Economy

  • Tanzania is a member of AU, EAC, SADC, Commonwealth, OIC.
  • Main industries include: Agricultural processing, Mining, Oil refining, Shoes, Cement, Textiles, Wood products, Fertilizer, Salt.
  • Tanzania is part of the World Trade Organization.
  • Imports are consumer goods, machinery, transportation equipment, industrial raw materials, crude oil.
  • Major exports include gold, coffee, cashew nuts, manufactures, cotton.
  • GDP: $75.7 billion (2023 est.).
  • GDP per capita: $1,192 (2023 est.).
  • Unemployment rate: 2.6% (2014 est.).
  • Inflation rate: 3.3% (2023 est.).
  • Main trading partners: India, China, South Africa, Kenya, United Arab Emirates, Germany.
  • Trade agreements: EAC Common Market, SADC Trade Protocol, Various bilateral agreements.

History

  • Previous currencies used: East African shilling, German East African rupie, Indian rupee.
  • The Tanzanian shilling was introduced in 1966, replacing the East African shilling after Tanzania left the East African Currency Board.
  • 1966: TZS introduced, replacing East African shilling
  • 1967: Arusha Declaration and socialism policy
  • 1986: Economic liberalization begins
  • 1993: Foreign exchange liberalization
  • 2020: New banknote series introduced
  • Exchange rate peg: Free floating.

General Information

  • ISO 4217 Code: TZS
  • Symbols: TZS/Sh
  • Currency Subunits: 100 senti
  • Central Bank: Bank of Tanzania
  • Monetary Policy: Flexible exchange rate with inflation targeting framework. Focus on price stability while supporting economic growth and development.
  • Bills: 500 TZS, 1000 TZS, 2000 TZS, 5000 TZS, 10000 TZS
  • Coins: 50 senti, 100 shillings, 200 shillings, 500 shillings
  • USD Exchange Rate: Variable (approximately 2500-2600 TZS per USD)
  • Pegged To: None (Floating)
  • Capital: Dodoma (legislative), Dar es Salaam (commercial)
  • Population: 63,588,334 (2023 est.)
  • Area: 947,300 km²
  • Languages: Kiswahili (official), English (official), Arabic, Local languages
  • Time Zones: UTC+3 (East Africa Time)
  • Government Type: Presidential republic
  • Head of Government: President (head of state and government)
  • Independence: April 26, 1964 (Tanganyika and Zanzibar merged)
  • Ethnic Groups: African 99%, Other 1%
  • Religions: Christian 61.4%, Muslim 35.2%, Folk religion 1.8%, Other 0.2%, Unaffiliated 1.4%
  • Literacy Rate: 77.9% (2015 est.)
  • Transport: Julius Nyerere International Airport, road networks, railway system, Indian Ocean ports
  • Communications: Expanding telecommunications, 32% internet penetration, growing mobile coverage
  • Energy: Hydroelectric 36%, Natural gas 31%, Petroleum 18%, Coal 9%, Renewables 6%
  • Countries Using This Currency: Tanzania
  • Data Sources: Central Bank: Bank of Tanzania (bot.go.tz), Economic Data: National Bureau of Statistics Tanzania, World Bank, IMF, Trade Data: Tanzania Revenue Authority, Demographic Data: National Bureau of Statistics Tanzania, Geographic Data: Tanzania Meteorological Authority, Historical Data: Bank of Tanzania archives
  • Last Updated: 2025