The unit of currency in Tanzania is the
Tanzanian shilling (Tsh).
The exchange rates as per november 2009 are:
1 EUR = 2,000.48 TZS
1 USD = 1,334.16 TZS
1 GBP = 2,213.37 TZS
Note/bill denominations are 500, 1,000, 5,000 and 10,000 and coins of 10, 20, 50, 100, 200.
When going to Tanzania it is important to remember that the places you are going to visit can be remote. There maybe no banks or cashmachines in the vicinity to hand out money on demand.
Expect banks to take more time to get things done, as the pace and spirit of Tanzanian life is much more relaxed and people love to socialize.
Read the following guidelines for handling or exchanging your money:
Tanzanian Shilling cannot be obtained in advance.
Change your money on arrival (most major currencies can be changed at Dar airport). Please note that Northern Irish and Scottish bank notes are IMPOSSIBLE to exchange. Bring money for travel time afterwards in USD Traveller's Cheques and a visa card for emergencies. It is worth bringing a reserve of USD in cash for national park fees.
Traveller's cheques can be cashed at major towns including Dar es Salaam, Mwanza, Arusha, Singida and Tabora. It can take up to one hour to cash TCs. Take USD TCs as other currencies may be refused. You must take your TC receipts as the banks will want to see them. TC cheques are usually exchanged at around 5% to 10% lower than cash.
Credit and debit cards are not generally accepted except at the most up-market establishments. Even if an ATM terminal displays a VISA logo, there is no guarantee that it will accept a non-Tanzanian card. In Dar es Salaam, Zanzibar and Arusha there are ATMs/cash-machines, which take normal bankcards. The exchange rate is comparable with changing cash in a good Bureau such as at Dar es Salaam airport.