Send Money to TZS

Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Margin Rate: 4%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Margin Rate: 0.70%
Minimum Transfer: 250
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in TZS

The country Tanzania with its capital at Dodoma is located in east Africa. It has a central bank called locally as "benki kuu" and a currency called the Tanzanian shilling or tzs in short. The TZS started its usage specifically the year 1977 after the collapse of the east Africa trade union. This TZS has a current exchange value of 2200tsh=1$ in the international money market hence further 1pound is equivalent to 2900 TZS.The TZS is denoted as tsh or Tanzanian shilling. Tanzania as a country tries with the advise of economists to undervalue the TZS up to a tune of up to 4% so as to discourage external inflows of goods and services and have a robust economy. This is taken keenly with the backup of the Tanzanian central bank's fiscal and monetary policies. TZS or "hela" as it is commonly called has seen a great depreciation in its value over the recent years due to fright of investors to put their investments in it as the TZS is volatile plus the tender nature of the Tanzanian economy. The Tanzanian economy has of most recent years been experiencing high growth rates of up to 7% thus a big increase in the middle class. The increased economy has led to availability of plenty of disposable income to the average citizen hence a somehow uncomfortable and useless TZS due to the high inflation averaging 20% for the previous fiscal years' budgets. Tanzania also as of the recent past has tried to increase the value of the TZS by increasing its gold stock in the "benki kuu" or central bank and luring investors to take up TZS by stabilising its value either fiscally or monetarily. This has been achieved courtesy of Chinese Exim bank's advice to the Tanzanian government.Though with the prospects of the east African common market the TZS is likely to be phased out by a common regional currency .Despite the TZS minuteness in the global economy of 7 billion people, indeed its a standard measure of value for 60 million Tanzanians as of 2016.
Currency Information on Tanzanian Shilling - TZS – Tanzanian shilling – x/y
The Tanzanian shilling does not have a symbolic representation, instead it is written in x/y format, where x = shilling and y = senti, where one or the other is not required, and equals ‘=’ sign is used instead.

The Tanzanian shilling was introduced in 1966, when it replaced the east African shilling at a 1:1 ratio.

Coins are available in denominations of 50, 100, 200 and 500 shilingi, and banknotes circulate in denominations of 500, 1000, 2000, 5000 and 10,000 shilingi.