Currency in Tanzania: What You Need to Know Before You Visit

People from around the world visit Tanzania to explore its beautiful landscapes, rich culture and adventure opportunities. If you are planning your trip in near future you’ll need to have knowledge on the currency in Tanzania. 

Whether you’re enjoying the wildlife on a safari, lounging on Zanzibar’s beaches, or hiking the legendary Mount Kilimanjaro, you’ll need money and will have to manage your finances smartly. This guide will tell you everything you need to know about Tanzania’s currency, the Tanzanian Shilling (TZS), to ensure you’re fully prepared.

Here’s a comprehensive breakdown of how to handle currency in Tanzania, with tips and tricks to make your trip smoother.

What is the Tanzanian Shilling (TZS)?

The Tanzanian Shilling (TZS) is the official currency of Tanzania and is used for all local transactions. While some tourist-friendly businesses accept US Dollars, the majority of small vendors, shops, and public transportation operators use TZS.

Denominations of Tanzanian Shillings

• Coins: Available in 50, 100, 200, and 500 shillings.
• Banknotes: Available in 1,000, 2,000, 5,000, and 10,000 shillings. There’s also a 500 note in circulation but it’s rarely used and seen.

The coins are lightweight and handy for small purchases, while the colorful banknotes depict iconic Tanzanian imagery, including wildlife and historical figures. Each note has unique security features like watermarks and a holographic strip, making them easy to identify and difficult to counterfeit.

Currency Symbol and Codes

The official currency symbol for the Tanzanian Shilling is /=, and its international code is TZS. While locals often use the symbol “/=” when pricing goods, international transactions or exchange rates will be listed under “TZS.” 

For example:

A meal at a local restaurant might be priced as “5,000/=.” On currency apps or exchange sites, the same amount will appear as “TZS 5,000.”

Understanding Exchange Rates

Exchange rates fluctuate regularly, so it’s important to check current rates before converting your money. At the time of writing:

• 1 USD = 2,653 TZS
• 1 EUR = 2,799 TZS
• 1 GBP = 3,354 TZS

How to Check Exchange Rates

Use reliable currency conversion apps like XE, OANDA, or Google to monitor exchange rates in real-time. These tools also help you estimate costs when making purchases, ensuring you stay on budget.

Where to Exchange Money in Tanzania

1. Forex Bureaus

Forex bureaus, found in most urban centers and airports, are the most reliable places to exchange money. They often have better rates than banks and offer quick service. Some recommended bureaus in Tanzania include:

• Forex bureaus in Dar es Salaam’s city center.
• Zanzibar’s bureaus near Stone Town.

2. Banks

One of the safest ways to exchange foreign currency in Tanzania is through local banks like NMB, CRDB, and NBC. Make sure you bring along your passport to exchange money. 

3. Avoid Street Traders

Exchanging money with street traders can be risky. Counterfeit currency and scams are common, so it’s best to avoid these entirely. Stick to official exchange services for peace of mind.

Currency Restrictions in Tanzania

If you’re planning your trip to Tanzania, it’s important to understand the country’s currency restrictions. Knowing what you can and cannot bring into the country will help you avoid unnecessary trouble at customs.

Bringing Foreign Currency Into Tanzania

Tanzania welcomes travelers to bring in foreign currency. However the following rules apply:

1. Limit Foreign Currency: You can bring an unlimited amount of foreign currency into Tanzania, but amounts exceeding $10,000 USD (or equivalent) must be declared to customs upon arrival. This is part of the global standard for monitoring large currency movements.
2. Cash Security: Ensure your foreign currency is in good condition. Torn or old US dollar bills, especially series issued before 2006 are often rejected by exchange bureaus.

Taking Currency Out of Tanzania

It’s illegal to take Tanzanian Shillings out of the country. This means you’ll need to plan carefully to avoid leaving with unused currency.

What to Do with Leftover Shillings

1. Spend before you leave: Use your remaining TZS to shop for souvenirs, pay for meals, or cover last-minute expenses.
2. Exchange back to USD or EUR: Forex bureaus at the airport allow you to convert leftover shillings into foreign currency. Keep in mind, the rates may not be as favorable as in the city.
3. Tip generously: Tipping your hotel staff, driver, or guide with leftover cash is a kind way to use up shillings.

Using Money in Tanzania

Cash vs. Cards

• Cash is essential: Many small businesses, street vendors, and rural areas operate exclusively in cash. Always carry smaller denominations for these transactions.
• Cards are useful too: In major cities and tourist hotspots, hotels, restaurants, and shops often accept Visa and Mastercard. 

ATMs in Tanzania

ATMs are readily available in urban centers like Dar es Salaam, Arusha, and Zanzibar. They’re an easy way to withdraw shillings using your international debit or credit card.

Things to Note:

• ATMs usually have a withdrawal limit of 400,000–1,000,000 TZS.
• Fees can range from $3 to $5 per transaction, depending on your bank.
• Use ATMs located inside banks or malls for security.

Mobile Money Services

Mobile money platforms like M-Pesa, Tigo Pesa, and Airtel Money are widely used in Tanzania. While primarily geared toward locals, some vendors allow tourists to pay using these platforms. For longer stays, consider getting a local SIM card and linking it to a mobile money account.

Tipping Etiquette in Tanzania

Tipping is a way to show appreciation for good service. Here’s a quick guide:

• Safari Guides and Porters: It’s customary to tip $10–$15 per day.
• Hotel Staff and Waiters: A tip of 10% of your bill is considered generous.
• Taxi Drivers: Tipping isn’t expected but is appreciated for exceptional service.

You can tip in both TZS and USD, but it’s polite to ask if the recipient prefers one over the other.

Also read: Languages in Tanzania: A Guide to the Country’s Main Voices

When to Use USD vs. Tanzanian Shillings

When to Use USD

• Booking safaris, hotels, or tours.
• High-value purchases like souvenirs or luxury services.

When to Use TZS

• Everyday transactions like meals, taxi rides, and small purchases.
• Entry fees to local attractions and national parks.

It’s wise to carry both currencies during your trip to cover a range of expenses.

What Are the Prices Like in Tanzania?

One of the best things about visiting Tanzania is how affordable it can be for most travelers. Whether you’re a budget traveler or a luxury seeker, you’ll find something for yourself in your preferred range. Here’s an overview of typical prices to help you plan:

Accommodation

• Budget Hostels or Campsites: $10–$25 per night.
• Mid-Range Hotels or Lodges: $50–$150 per night.
• Luxury Resorts and Safari Lodges: $250–$1,000+ per night.

Tanzania has a range of options depending on your style of travel. Budget travelers can opt for simple guesthouses, while luxury lodges cater to high-end tourists with exceptional amenities and personalized services.

Food and Drink

• Local Meals: A hearty plate of rice, beans, or ugali with meat costs 5,000–10,000 TZS ($2–$4 USD).
• Western Cuisine: At tourist-friendly restaurants, expect to pay 20,000–50,000 TZS ($8–$20 USD).
• Coffee or Tea: Around 2,000–5,000 TZS ($1–$2 USD) at local cafes.
• Bottled Water: 1.5 liters cost around 1,000 TZS ($0.40 USD).

Eating at local restaurants or food joints is not only budget-friendly but also offers a taste of authentic Tanzanian flavors.

Transportation

• Local Buses: A short ride costs around 500–1,000 TZS ($0.20–$0.40 USD).
• Taxi Rides: Short distances in cities cost around 10,000–30,000 TZS ($4–$12 USD), but always negotiate the price beforehand.
• Domestic Flights: Depending on the route, prices range from $50 to $200 USD for one-way tickets.

Activities and Tours

• National Park Entry Fees: Most parks charge $40–$80 USD per day for international visitors.
• Safari Packages: These can range from $150–$500 USD per person, per day, depending on the level of luxury and inclusions.
• Zanzibar Tours: Expect to pay $30–$100 USD for activities like spice tours, snorkeling, or historical excursions.

Souvenirs

• Local Handicrafts: Items like kitenge fabrics, beaded jewelry, or wooden carvings cost between 5,000–50,000 TZS ($2–$20 USD).
• Tanzanite Jewelry: Authentic tanzanite gemstones start at $100 USD and can go much higher depending on quality and size.

Additional read: What to Buy in Tanzania: Things to Bring Home from Your Trip

Budgeting Your Trip to Tanzania

Here’s an idea of average daily expenses to help you plan:

• Budget Travelers: $30–$50 per day for basic accommodation, local food, and transport.
• Mid-Range Travelers: $80–$150 per day for comfortable lodges, guided tours, and international meals.
• Luxury Travelers: $200+ per day for premium lodges, private safaris, and fine dining.

Safety Tips for Managing Money in Tanzania

Counterfeit Notes

Always check your banknotes for watermarks and holographic strips. If you’re unsure, exchange money at trusted Forex bureaus or banks.

Keep Your Money Safe

• Use a money belt or a hidden pouch for extra safety.
• Store large amounts of cash in your hotel safe and only carry what you need for the day.

Negotiate Smartly

In markets and with taxi drivers, bargaining is part of the culture. Don’t be shy, but be fair. It’s all in good spirits.

Key Takeaways

1. The Tanzanian Shilling (TZS) is the primary currency, but USD is widely accepted for large transactions.
2. Exchange money only at authorized Forex bureaus or banks.
3. Carry cash for local markets and rural areas, but have a card ready for hotels and restaurants.
4. Spend or exchange your remaining TZS before leaving, as it’s illegal to take shillings out of the country.

Final Thoughts

Tanzania is an incredible destination, and understanding the local currency will help you focus on enjoying your trip. From the vibrant markets to breathtaking safaris, managing your money efficiently ensures a stress-free experience.

Ready to explore Tanzania? 

Let Maximilian Adventures plan your dream safari or Zanzibar getaway. With our expertise, you can focus on making memories while we handle the details.