# Tanzanian shilling

> currency of Tanzania

**Wikidata**: [Q4589](https://www.wikidata.org/wiki/Q4589)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Tanzanian_shilling)  
**Source**: https://4ort.xyz/entity/tanzanian-shilling

## Summary
The Tanzanian shilling (TZS) is the official currency of Tanzania, introduced in 1966 to replace the East African shilling. It is subdivided into 100 centimes and is issued by the Bank of Tanzania. The shilling serves as the primary medium of exchange for goods and services in the country, alongside English and Swahili as official languages.

## Key Facts
- **Currency Code**: TZS (ISO 4217 standard).
- **Subdivision**: 1 shilling = 100 centimes.
- **Issuer**: Bank of Tanzania (inception: January 1, 1965).
- **Replaced**: East African shilling (1921–1969).
- **Introduced**: 1966 (following Tanzania's independence).
- **Symbol**: TSh or Sh.
- **Banknotes**: Denominations include 500, 1,000, 2,000, 5,000, and 10,000 shillings.
- **Coins**: 50, 100, 200, and 500 shillings.
- **Digital Representation**: Unicode character: Tanzanian shilling sign (💵).
- **Related Entities**: Linked to Tanzanian economy, Bank of Tanzania, and Tanzanian government policies.
- **Aliases**: Tanzanian schilling, Tanzanian shilingi, TSh.
- **Wikidata ID**: Q1275499 (instance of currency).
- **Wikipedia Title**: Tanzanian shilling (52 sitelinks).

## FAQs
**What is the Tanzanian shilling used for?**
The Tanzanian shilling is the official currency of Tanzania, used for all financial transactions within the country. It serves as a medium of exchange, unit of account, and store of value, issued by the Bank of Tanzania. The shilling is subdivided into 100 centimes and is widely accepted in retail, services, and government transactions.

**How does the Tanzanian shilling compare to other African currencies?**
The Tanzanian shilling is distinct from other African currencies in its issuance by the Bank of Tanzania and its subdivision into centimes. Unlike some other African currencies, it is not pegged to a foreign currency and is managed independently by the central bank. The shilling is also unique in its historical context, having replaced the East African shilling in 1966.

**What are the denominations of Tanzanian shilling banknotes and coins?**
Tanzanian shilling banknotes come in denominations of 500, 1,000, 2,000, 5,000, and 10,000 shillings. Coins are available in 50, 100, 200, and 500 shillings. The Bank of Tanzania issues these denominations to facilitate transactions across Tanzania.

**How is the Tanzanian shilling managed and regulated?**
The Tanzanian shilling is managed by the Bank of Tanzania, which is responsible for issuing currency, maintaining monetary policy, and ensuring financial stability. The central bank sets interest rates, regulates banks, and oversees the country's foreign exchange reserves. The shilling's value is influenced by economic policies, inflation rates, and international trade dynamics.

**What is the historical background of the Tanzanian shilling?**
The Tanzanian shilling was introduced in 1966 to replace the East African shilling, which had been used in British-controlled territories in East Africa. The new currency reflected Tanzania's independence and the unification of Tanganyika and Zanzibar. The shilling's design and issuance are aligned with the country's economic development goals and financial sovereignty.

## Why It Matters
The Tanzanian shilling is a critical component of Tanzania's economic infrastructure, enabling trade, investment, and financial stability. As the official currency, it facilitates transactions across retail, services, and government sectors, supporting the country's GDP of approximately $75.7 billion (2022). The shilling's issuance by the Bank of Tanzania ensures monetary policy alignment with Tanzania's economic objectives, including inflation control and sustainable growth. Its subdivision into centimes and issuance of banknotes and coins reflect the country's financial needs and technological advancements. The shilling's role in Tanzania's economy is further underscored by its integration into international financial systems, such as the World Trade Organization and African Continental Free Trade Area.

## Notable For
- **Official Currency of Tanzania**: Serves as the primary medium of exchange in the country.
- **Subdivision into Centimes**: Unique in its subdivision into 100 centimes, distinct from other African currencies.
- **Issued by Bank of Tanzania**: Managed independently by the country's central bank.
- **Replaced East African Shilling**: Introduced in 1966 following Tanzania's independence.
- **Denominations**: Includes banknotes of 500, 1,000, 2,000, 5,000, and 10,000 shillings.
- **Coins**: Features coins of 50, 100, 200, and 500 shillings.
- **Digital Representation**: Has a Unicode character (💵) for digital communication.
- **Economic Stability**: Supports Tanzania's GDP and financial transactions across sectors.
- **Aliases**: Recognized by multiple names, including Tanzanian schilling and Tanzanian shilingi.
- **Linked to Tanzanian Economy**: Integral to the country's economic policies and financial infrastructure.

## Body

### Currency Overview
The Tanzanian shilling (TZS) is the official currency of Tanzania, introduced in 1966 to replace the East African shilling. It is subdivided into 100 centimes and is issued by the Bank of Tanzania. The shilling serves as the primary medium of exchange for goods and services in the country, alongside English and Swahili as official languages. The currency is represented by the symbol TSh or Sh and is widely accepted in retail, services, and government transactions.

### Historical Context
The Tanzanian shilling was introduced in 1966 following Tanzania's independence and the unification of Tanganyika and Zanzibar. It replaced the East African shilling, which had been used in British-controlled territories in East Africa. The new currency reflected Tanzania's financial sovereignty and economic development goals. The Bank of Tanzania, established in 1965, is responsible for issuing the shilling and managing monetary policy.

### Denominations and Issuance
Tanzanian shilling banknotes come in denominations of 500, 1,000, 2,000, 5,000, and 10,000 shillings. Coins are available in 50, 100, 200, and 500 shillings. The Bank of Tanzania issues these denominations to facilitate transactions across Tanzania. The shilling's design and issuance are aligned with the country's economic objectives and financial stability.

### Economic Role
The Tanzanian shilling plays a crucial role in Tanzania's economy, supporting a GDP of approximately $75.7 billion (2022). It is used for all financial transactions within the country and is integrated into international financial systems, such as the World Trade Organization and African Continental Free Trade Area. The shilling's value is influenced by economic policies, inflation rates, and international trade dynamics.

### Monetary Policy and Regulation
The Bank of Tanzania is responsible for managing the Tanzanian shilling, setting interest rates, and regulating banks. The central bank oversees the country's foreign exchange reserves and ensures financial stability. The shilling's issuance and monetary policy are aligned with Tanzania's economic development goals and financial sovereignty.

### Digital Representation
The Tanzanian shilling is represented digitally by the Unicode character 💵, which is used in digital communication and financial systems. The currency's digital representation reflects its role in modern financial transactions and technological advancements.

### Related Entities
The Tanzanian shilling is linked to several key entities, including the Bank of Tanzania, Tanzanian government policies, and the country's economic infrastructure. These entities work together to ensure the shilling's stability and effectiveness as a medium of exchange.

### Aliases and Identifiers
The Tanzanian shilling is recognized by multiple aliases, including Tanzanian schilling and Tanzanian shilingi. It is also identified by the ISO 4217 currency code TZS and has a Wikidata ID of Q1275499. The currency's aliases and identifiers reflect its widespread use and recognition in financial systems.

### Conclusion
The Tanzanian shilling is a vital component of Tanzania's economic infrastructure, enabling trade, investment, and financial stability. Its issuance by the Bank of Tanzania and integration into international financial systems underscore its significance in the country's economic development. The shilling's denominations, digital representation, and economic role make it a critical tool for Tanzania's financial transactions and economic growth.

## References

1. Freebase Data Dumps. 2013
2. GF WordNet