Tanzanian Currency

Travelling to Tanzania

Home to the largest freestanding mountain in the world, Mount Kilimanjaro, the iconic Serengeti National Park and the exotic island of Zanzibar – there are more than a few reasons to visit to Tanzania! Reaching the roof of Africa features highly on many a bucket list, and at 5,895m high successfully summiting Kilimanjaro is an adventure and a half. Many choose to rest and recuperate afterwards exploring the national parks in Tanzania, spotting big game and sleeping in remote safari lodges whilst waiting for the feeling to come back to your toes. This magical East African country delivers endless entertainment so understanding Tanzanian currency and how to navigate exchange rates in Tanzania will ultimately benefit your travel plans.

What is the currency in Tanzania?

The currency in Tanzania is the Tanzanian shilling, code TSZ or abbreviated to TSh. Tanzania currency is a closed currency which means you can only buy it within Tanzania.

There are 100 cents in 1 shilling and coins are available in denominations of 50, 100, 200 and 500 cents. Tanzanian shillings banknotes come in denominations of 500, 1,000, 2,000, 5,000 and 10,000

It may be confusing when you first see pricing in Tanzania as they don’t use the decimal place, but it is fairly easy to get your head around. Prices are modelled on the British sterling amounts of pounds, shillings and pence before decimalisation. The amount will be displayed as -/- where the first amount is the amount over 1 shilling and the second amount is the number of cents.

For example, -/50 is 50 cents, and 500 shillings will be written as 500/- or 500 TSh. One British pound is the equivalent to approximately 3,500/- and one US dollar is around 2,700/-.

Simple, right?!

Until very recently, US dollars were a widely accepted currency in Tanzania but a new ban on foreign currency came into effect in March 2025. These new restrictions prohibit businesses charging in foreign currencies and all local transactions within Tanzania must now be in Tanzanian shillings only. You can read more about this below.

The history of currency for Tanzania

When the first visitors came to East Africa in the 15th and 16th centuries, barter trade was used for the exchange of goods and services. It wasn’t until 1890, five years after the German East Africa Company established a protectorate in Tanganyika, that an official currency was introduced - the German rupee. These silver coins were equivalent to the rupee used in India and Zanzibar at the time.

After the first world war the East African florin was introduced amidst the rising cost of silver but it was short lived and not widely distributed and ultimately replaced by the East African shilling 2 years later. In 1966, following independence for East Africa, the East African shilling was replaced by the Tanzanian shilling, the Ugandan shilling and the Kenyan shilling, which remain today.

Recent changes to currency in Tanzania

In 2024 in reaction to a weakening Tanzanian shilling, the government in Tanzania announced new restrictions to the use of foreign currency. The Foreign Currency Usage Regulations 2025 legislations came into effect on 28th March 2025 and prohibits the use of foreign currency for local transactions. Before this, US dollars were widely accepted for national park entry, accommodation, food and drink, payment for goods services and activities. The decision to introduce the mandatory use of Tanzanian shillings aims to decrease reliance on foreign currencies in certain sectors. New regulations also include stipulations that visitors must use official channels to convert foreign currency such as banks in Tanzania or registered bureaux de change.

Ways to pay in Tanzania

Debit and credit cards

In larger cities and towns, businesses that serve international customers will usually accept payments by debit or credit card. Before you travel, inform your bank that you will be using your card(s) abroad, so they don’t put a freeze on your card because of foreign transactions. If offered a choice on a card machine, choose to pay in the local currency to avoid additional transaction fees.

It may also be a good idea to apply for a card that offers free use outside of your country of residence. Some banks charge both a foreign currency exchange fee, for spending on a currency other than your own, in addition to the exchange rate they provide you with. Using a prepaid debit card or a card that doesn’t charge for foreign spending could potentially bankroll your souvenir spending by saving you those additional fees.

Using cash in Tanzania

In smaller, local businesses cash remains king. You can either bring cash with you and exchange it at authorised institutions or withdraw cash from an ATM. You’ll find ATM cash points at banks in most towns and cities, usually located within a vestibule to the bank rather than directly on the street. Some bank ATMs are open 24/7 but many will only open when the bank is open so remember to withdraw cash during the day and between business hours to avoid getting caught short.

In remote areas such as the national parks and the interior of the country, away from larger towns, you might struggle to find an ATM. Plan in advance where you will be heading and budget for your itinerary accordingly. You may need to withdraw cash or exchange money a few days in advance if you are heading out on safari, climbing Kilimanjaro or visiting more isolated destinations. You will find ATMs and currency exchange kiosks at the airports in Tanzania so you should be able to buy currency when you have landed.

Even seasoned travellers can get caught out by thieves, con artists and grifters. Practice responsible money handling by shielding your pin when using an ATM, only withdraw what you need and keep spare cash locked away in your accommodation or in a money belt out of sight. Tanzania is a warm and welcoming country but as with most destinations, there are unsavoury characters and places that are best avoided and being money savvy is not difficult.

You can read more about staying safe whilst travelling in our blog.

Market in Stone Town - Zanzibar - Tanzania

Currency exchange in Tanzania

New regulations require visitors to exchange money at approved institutions only. Licensed banks such as the Bank of Tanzania, the central bank of Tanzania (unsurprisingly!), and bureau de change are the only places where you can legally exchange foreign currency into Tanzanian shillings. Foreign exchange bureaux are collectively referred to as ‘forex’ and they will have published exchange rates displayed prominently in their establishments. These will be updated daily so it is easy to see where you can get the best rates.

The website xe.com is an excellent currency converter for checking exchange rates such as pounds to Tanzania shillings and US dollars to Tanzanian shillings etc.

Tipping and haggling in Tanzania

Tipping for good service in Tanzania is customary, but not mandatory. If you have climbed Kilimanjaro, been on safari or taken part in other excursions or activities and been pleased with the level of service then tipping will be appreciated by those who have looked after you. For Kilimanjaro in particular, KPAP or the Kilimanjaro Porters Assistance Project, provide recommended tipping guidelines, as well as campaigning for the fair treatment of porters on Kilimanjaro. We send this information out as part of your trip documents for those climbing Kili for you to read before your travel.

Outside of this, tipping in restaurants or hotels for good customer service is standard. Many establishments will have a tip box where tips are divided amongst the team, or you can hand your money to individual staff who have looked after you.

Haggling is also common in Tanzania. You wouldn’t haggle for goods at the supermarkets, in shopping malls or anywhere else where there are fixed prices. However, haggling over the price of a taxi before travel, with street vendors, at markets or local shops is acceptable.

Remember to greet locals with a smile and a few words in Swahili – jambo is a universal greeting and means ‘hello’ or ‘how’s it going’. This effort will be appreciated. Check out average prices before beginning to haggle, be patient and if no movement on price is given then be prepared to walk away and find what you are after elsewhere. Avoid being aggressive and consider the impact the value of your purchase to the vendor as well as the price. A little courtesy and understanding will go a long way.

Visiting Tanzania with Kandoo Adventures

Overall, you will be fine using your card most places in Tanzania although the charges for this can mount up quickly. The easiest way to pay for anything is with cash. Whether you find an ATM on arrival or take currency with you to convert, the rate will likely be similar, and local businesses will benefit from your business more. Understanding local currency will make all the difference when exploring on your own, giving you the confidence to try haggling for goods and making purchases from local vendors.

When you book at adventure holiday to Tanzania with Kandoo, the majority of your trip expenses will be included in the cost of your trip. You will usually only need money for drinks, snacks, souvenirs and tips. Our local team in Tanzania is super friendly and knowledgeable about the best ways to pay. For help exchanging currency, withdrawing cash or advising on how much things should cost, their guidance will be invaluable. You can read more about foreign currency in our articles about Peruvian currency and Nepalese currency – both popular destinations with cultures different to those we are familiar with in the West.

We look forward to welcoming you on one of our Tanzanian adventures soon and can’t wait to share this exciting destination with you. Get in touch with our friendly at Kandoo HQ for more information or check out our trips to Tanzania below.

Find your next adventure in Tanzania