Tanzania Currency

The official currency of Tanzania is the Tanzanian Shilling (TZS). Here is a comprehensive guide to understanding and using the Tanzanian Shilling during your visit with Beyond Kilimanjaro.

Currency Denominations

• Banknotes: Tanzanian Shilling banknotes are available in denominations of 500, 1000, 2000, 5000, and 10,000 shillings.
• Coins: Coins are available in denominations of 50, 100, 200, and 500 shillings.

Currency Exchange

• Exchange Locations: Currency can be exchanged at banks, foreign exchange bureaus, and some hotels. It is advisable to exchange currency at official and reputable exchange bureaus to get the best rates.
• Exchange Rates: Exchange rates vary, so it’s wise to compare rates at different locations. Banks and exchange bureaus usually offer competitive rates.
• US Dollars: US dollars are widely accepted in Tanzania, particularly in hotels, safari lodges, and larger establishments. However, ensure you carry newer dollar notes (issued post-2006) as older notes may not be accepted.

Using Credit and Debit Cards

• Acceptance: Major credit cards (Visa and MasterCard) are widely accepted in cities, large hotels, and tourist areas. However, cash is preferred in rural areas and small towns.
• ATMs: ATMs are available in major cities and towns. They dispense Tanzanian Shillings and are convenient for withdrawing cash. Inform your bank about your travel plans to avoid any card usage issues.
• Transaction Fees: Be aware of potential transaction fees charged by your home bank for international withdrawals and payments.

Tips for Handling Money

• Carry Small Bills: It’s useful to carry small denominations for tips, small purchases, and markets.
• Secure Your Cash: Use hotel safes to store large amounts of cash and valuables. Keep your cash and cards in a secure, concealed location while exploring.

Cost of Living

• General Costs: Tanzania offers a range of prices depending on the region and the type of services or goods. In general, local markets and eateries are inexpensive, while prices in tourist areas and luxury hotels can be higher.
• Tipping: Tipping is customary in Tanzania. For guides and drivers, a tip of $10-$15 per day is appreciated. In restaurants, a 10% tip is standard if a service charge isn’t already included.

Banking Hours

• Standard Hours: Banks typically operate from 8:30 AM to 3:30 PM, Monday to Friday. Some banks are open on Saturday mornings.
• Bank Holidays: Banks are closed on public holidays. It’s advisable to check the local holiday calendar.

Practical Tips

• Keep Receipts: Retain receipts of currency exchanges and significant purchases for your records and potential refunds.
• Language: English is widely spoken in tourist areas, making transactions easier for visitors.
• Cultural Sensitivity: Be mindful of the local customs and practices related to money handling.