Tanzanian Shilling (TZS)

Operational since June 14, 1966, the Bank of Tanzania steers the shilling through a flexible exchange rate — allowing market forces to set its value while stepping in during disorderly swings. Since 2024, monetary policy follows an interest-rate-based framework anchored to the Central Bank Rate, a quarterly signal shaping borrowing costs economy-wide. Gold exports, tourism receipts, and agricultural trade collectively drive Tanzania's foreign-currency supply. The bank also manages foreign reserves explicitly sized against the country's import bill and external debt obligations.

Before independence, Tanganyika and Zanzibar shared the East African shilling — a colonial currency administered from London. Monetary sovereignty demanded a break. On June 14, 1966, President Julius Nyerere walked up to a Bank of Tanzania cashier window, handed over an East African note, and received the very first Tanzanian shillings ever dispensed. That personal act inaugurated a currency carrying denominations from TSh 5 to TSh 100. The word