In this guide to banking, money, and currency in Tanzania, you’ll get our best travel money tips, from finding the best exchange rates to breaking down the average prices of local goods and services. Read on for all the details on navigating the local currency and banking system in Tanzania.
Traveling in Tanzania, you’ll be using the local Tanzanian currency: the Tanzanian shilling. Issued by the Central Bank of Tanzania, Tanzanian shillings feature bright colors and national imagery, from important historical figures to local wildlife, like lions. It’s been the official currency of the country since 1966, when it replaced the East African shilling.
Here’s everything you’ll need to know about money in Tanzania before your trip.
- Travel Money in Tanzania: Everything You Need to Know
- Tanzanian Shilling Basics
- How to Get Tanzanian Shillings
- Cost of Goods and Living in Tanzania
- Importing and Exporting Tanzanian Shillings
- Counterfeit Tanzanian Shillings
- Using Credit Cards in Tanzania
- Cultural Sensitivities Around Money
- Preparing for Your Tanzania Trip
Travel Money in Tanzania: Everything You Need to Know
Tanzanian Shilling Basics
- Currency Code: TZS
- Symbol: TSh/ /=
- Forms: Banknotes, coins
- Division: 1 shilling = 100 cents (senti in Swahili)
- Countries of Use: Tanzania
Denominations
Tanzanian shillings are available in two physical forms: banknotes and coins.
- Banknote denominations: 500/=, 1,000/=, 2,000/=, 5,000/=, 10,000/=
- Coin denominations: 50/=, 100/=, 200/=, 500/=
Tanzanian Shilling Exchange Rates
It’s recommended to compare rates and fees at different banks and currency exchange offices to ensure you get the best exchange rate.
The current exchange rate for USD to TZS is: US$1.00 = TSh2,455, though it constantly fluctuates.
Because exchange rates are subject to change, it’s essential to check the rates before making any currency exchanges. Use an exchange rate calculator to check the current exchange rate, both before and during your visit to help you better track your spending. It’s also recommended to compare rates and fees at different banks and currency exchange offices to ensure you get the best exchange rate.
How to Get Tanzanian Shillings
With the exception of Ugandans and Kenyans, non-residents can’t import Tanzanian shillings into the country. Because of this rule, you’ll have to wait until you’ve arrived in Tanzania to take out local currency in cash.
Major airports and points of entry, like Dar es Salaam’s Julius Nyerere International Airport, have ATMs and currency exchanges available when you arrive. To avoid currency scams, such as receiving counterfeit money, you should only exchange money at reputable establishments, like banks and official currency exchanges.
Currency Exchanges
Julius Nyerere International Airport has currency exchange bureaus available to exchange foreign currency for Tanzanian shillings upon your arrival. You’ll also find currency exchanges in major cities, like Arusha and Dar es Salaam. Some hotels will also exchange money for you, but likely at a higher exchange rate.
Cash Advances at ATMs
ATMs are widely available in airports, banks, and major cities, like Arusha and Dar es Salaam, but less common once you head out into the national parks or rural areas. In northern Tanzania, popular tourist villages, such as Mto wa Mbu, also have ATMs, but only because they’re tourist hotspots. It’s highly recommended that you take out plenty of cash in cities and towns before heading off on safari.
It’s best to only take out money in busy, well-populated areas. Practice common sense and be aware of your surroundings when making ATM withdrawals to make sure someone isn’t watching you, and examine the machine for card readers that can capture your debit cards’ data.
It’s also smart to check with your bank regarding foreign transaction fees and international ATM fees before you leave.
Exchanging Currency at a Local Bank
One of the safest and most reliable ways to exchange foreign currency for TZS is at local banks, such as CRDB Bank, Bank of Africa, NMB Bank, and Standard Chartered Bank. Be sure to bring your passport along for exchanging cash.
Cost of Goods and Living in Tanzania
Because of its popularity as a safari destination, it’s easy to assume that Tanzania is an expensive country to travel around. While some safari expeditions, hotels, and activities can be expensive, the good exchange rate between USD and TZS means your dollar can go further here. Tanzania isn’t the cheapest country to visit nor is it the most expensive. It’s possible to find budget-travel options here, as well as splurge-worthy experiences.
Here are the average costs of some expenses you may have as a traveler:
- Average daily expenditure: TSh122,635 (budget) to TSh269,790 (higher-end)
- Bus ride: TSh400
- Taxi: TSh5,000
- Hotels: TSh49,055 to TSh122,635 (mid-range); TSh245,270 to TSh490,530 (higher end)
- Meal: TSh35,000 to TSh46,000 at western-style restaurants,TSh7,360 to TSh12,265 at local food stalls and restaurants
Importing and Exporting Tanzanian Shillings
With the exception of Ugandan and Kenyan nationals, nonresidents can’t import or export Tanzanian shillings, so you’ll need to exchange foreign currency for TZS upon arrival and then exchange it back before departure.
If you’re bringing more than $10,000 in USD or other foreign currency into the country, you’ll need to declare it upon entry and exit.
Counterfeit Tanzanian Shillings
Counterfeit currency is an issue here, which is why it’s important to only exchange or withdraw money at reputable banks, ATMs, and currency exchanges. If you do suspect you’ve received counterfeit TZH banknotes, check for these security features that appear on the real thing:
- A rolling star that shifts color when the banknote is moved
- Watermark that’s only viewable when held up to light
- Security thread running through banknote
- Raised intaglio printing
If you think you’re in possession of counterfeit cash, head to the nearest police station to file a report.
Using US Dollars in Tanzania
USD can be accepted in tourist areas for expenses like hotels, airports, and national-park entry fees. But since not all establishments will accept US dollar bills, it’s a good idea to carry Tanzanian shillings as well.
Using Credit Cards in Tanzania
Tanzania is primarily a cash economy, but places like hotels, major restaurants, and stores in big cities and towns do accept some major credit cards. Visa and Mastercard are the most widely accepted, with some bigger hotels and establishments accepting American Express. Since credit cards aren’t accepted everywhere, don’t count on all places having contactless payment, especially outside of big cities.
In general, it’s best to carry cash for transactions like paying for meals, shopping, tips, paying for cabs, and other day-to-day activities. Travelers’ checks can be cashed at major banks.
Credit Card Fees
Before traveling to Tanzania, remember to inform your credit card company where and for how long you’ll be abroad. That way your transactions won’t be marked as fraudulent, which risks you losing access to your cards while traveling.
If you opt for a cash advance, you may be subject to foreign transaction fees or currency conversion fees. Out-of-network ATM cash withdrawals can also incur a service charge.
Cultural Sensitivities Around Money
From tipping culture to haggling in markets, here’s what you should know about handling money in Tanzania.
Tipping Etiquette in Tanzania
There are times you may need to tip during your Tanzanian trip, primarily when out on safari, at restaurants, and when using cabs.
Tipping in restaurants isn’t required, but it is appreciated. A small amount (5% to 10%) is sufficient. Similarly, it’s not expected to tip your cab driver, but if you appreciate the service, you can round up the fare.
The most important place to tip in Tanzania is when you’re out on safari, staying in camps and safari lodges. As you’ll likely spend lots of time going game-viewing, it’s customary to give your guides a good time (US$8 to $10 per person per day).
For tipping camp or hotel staff, each outfit has different rules or policies (usually outlined in your orientation or welcome information packets). Staff tips are usually split; some safari stays have tip boxes for the general staff, while at others you can leave the tip in your room. Aim for US$8 to $10 per day, more for better service.
Bargaining and Haggling
It’s common to haggle and barter at local markets and street stalls, and as street vendors or touts typically inflate prices for foreigners, it’s expected to negotiate a bit. But don’t go too low or argue too much—tourist dollars are much needed here, so overpaying by a few Tanzanian shillings isn’t worth worrying about.
Here are some protocols to keep in mind for bartering in Tanzania:
- Be friendly and start off the interaction with a smile.
- If you’re concerned about being ripped off, ask a local guide for advice about the going rates for items you’re interested in before approaching any vendors.
- Most prices you’ll be offered are already inflated, so it’s ok to haggle for a slightly lower rate.
- Don’t ask for too low a price. Decide on a fair rate and don’t push any further.
- Don’t stress if the vendor won’t go as low as you want—just say no and walk away. Hapana asante means “No, thank you” in Swahili.
You should also barter for taxi rides. Cab drivers will sometimes double-charge unsuspecting tourists.
Haggling is a fun way to shop and interact with the locals while in Tanzania, so don’t take it too seriously. Be respectful, do your research, and know your limits.
Preparing for Your Tanzania Trip
Obtaining a visa is an essential part of planning your trip. At Entriva, we can easily and efficiently help you with every aspect of getting a Tanzanian visa. Start your visa application process.
For more information on other aspects of travel to Tanzania, including local laws, health and safety, and culture and customs, visit our Tanzania content hub.