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US dollar to Tanzanian shilling exchange rate
Find the best USD/TZS exchange rate for 08 Mar 2021.
Refreshing in: 60s | Mon, Mar 08, 01:16PM GMT
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How can I get the best exchange rate between the US dollar and the Tanzanian shilling?
Due to restrictions in place by the Tanzanian government dealing with currency, there aren’t many options for exchanging foreign currency into Tanzanian shillings outside of Tanzania — the exchange needs to happen after you arrive in the country.
The best exchange rate for cash exchanges between USD and TZS are typically found at foreign exchange offices located throughout the major cities in Tanzania. Rates there are reported to be much better than what hotels or banks will offer. New and clean looking $50 and $100 bills will get you the best rates.
Traveler’s checks are no longer accepted in Tanzania, so you’ll need to rely on either a debit or credit card, or cash. US dollars are often accepted and sometimes even preferred by the locals, but make sure you get a fair exchange rate. Many travelers also report that US dollar bills must be issued after 2006.
If you’re looking to send money from the US to someone in Tanzania, online service providers will be your best bet. Money transfer companies usually offer fair exchange rates and transparent fees with transaction times that are typically faster than banks.
|Bank notes:||$1, $5, $10, $20, $50, $100|
|Coins:||1c, 5c, 10c, 25c, 50c|
|Bank notes:||500, 1000, 2000, 5000, 10,000 shilingi|
|Coins:||50, 100, 200, 500 shilingi|
What affects exchange rates between the US dollar and the Tanzanian shilling?
As a floating currency, the exchange rate between US dollars and Tanzanian shillings is determined by the foreign exchange market. Positive economic news coming out of Tanzania will usually boost the value of the shilling, while negative economic news will cause it to go lower when compared to the US dollar.
Mining, particularly for gold, is the most important industry for Tanzanian exports. Rising gold prices will normally contribute to a stronger shilling against the dollar. The export of agricultural products like tobacco and coffee have a big impact on keeping up the value of the shilling compared to the dollar as well.
Lastly, interest rates in both the United States and Tanzania are extremely important for the exchange rate between the two currencies. Rising interest rates in either one of the countries will usually lead to a stronger currency as well.
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How does the Tanzanian shilling trade against the US dollar historically?
Since 2000, the Tanzanian shilling has lost a significant amount of its buying power in terms of US dollars. From being valued at just below 800 shillings per dollar back then, it’s now dropped to a level of 2,250 shillings per one dollar in 2018.
The sharpest drop in value during this period happened between 2014 and 2015 when the exchange rate moved from 1,650 shillings per dollar to 2,100 shillings per dollar in less than a year.
US Dollar to the Tanzanian Shilling for the last 10 days
|Feb 26||Feb 27||Feb 28||Mar 01||Mar 02||Mar 03||Mar 04||Mar 05||Mar 06||Mar 07|
|1 USD =||2318.3131 Inverse: 0.0004||2318.3131 Inverse: 0.0004||2318.6565 Inverse: 0.0004||2319.0738 Inverse: 0.0004||2319.6350 Inverse: 0.0004||2319.0000 Inverse: 0.0004||2319.0000 Inverse: 0.0004||2319.0000 Inverse: 0.0004||2319.0000 Inverse: 0.0004||2318.3291 Inverse: 0.0004|
US Dollar to the Tanzanian Shilling for the last 10 months
|May 2020||Jun 2020||Jul 2020||Aug 2020||Sep 2020||Oct 2020||Nov 2020||Dec 2020||Jan 2021||Feb 2021|
|1 USD =||2314.8137 Inverse: 0.0004||2314.8587 Inverse: 0.0004||2318.2730 Inverse: 0.0004||2325.0000 Inverse: 0.0004||2320.0079 Inverse: 0.0004||2320.9675 Inverse: 0.0004||2318.0180 Inverse: 0.0004||2318.4474 Inverse: 0.0004||2323.8912 Inverse: 0.0004||2319.3150 Inverse: 0.0004|
US Dollar to the Tanzanian Shilling for the last 10 years
|Mar 2011||Mar 2012||Mar 2013||Mar 2014||Mar 2015||Mar 2016||Mar 2017||Mar 2018||Mar 2019||Mar 2020|
|1 USD =||1508.7591 Inverse: 0.0007||1590.7488 Inverse: 0.0006||1626.4223 Inverse: 0.0006||1628.7900 Inverse: 0.0006||1821.7500 Inverse: 0.0005||2186.3833 Inverse: 0.0005||2230.7351 Inverse: 0.0004||2253.8000 Inverse: 0.0004||2364.2487 Inverse: 0.0004||2305.1000 Inverse: 0.0004|
Market rate for common transfer amounts USD to TZS
|US Dollars (USD)||Tanzanian Shilling (TZS)|
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