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Best Currency in Tanzania

North Wales
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Best Currency in Tanzania

Which is the best currency to use in Tanzania? A lot of people seem to just refer to USD but I've read that UK Sterling is just as acceptable.

Any info. greatly received.

Hagerman, Idaho
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1. Re: Best Currency in Tanzania

You are best off with US money or exchanging it for TZ shillings if you plan on using cash. Most prices you see will be in US or TZ and most will accept US as they know the rate (or make up one on the spot that suits them). If you try handing out Sterling most will not know the current exchange rate and not accept it-plus youll be constantly having to run rates through your head converting their price to your price and then convincing them its correct. Its easy to exchange money in Arusha or any other large town.

Findlay, Ohio
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for Tanzania, Ngorongoro Conservation Area
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2. Re: Best Currency in Tanzania

For the most part you need to use either US Dollars or the local currency T Shillings. I always advise using T Shilling while you are there, you will get the best rates from this. Can you use dollars, sure, but some will discount them heavily; for example if something was 1,000 T Shillings, they might accept $1 for it (when the exchange rate is actually 1,375 TSh = $1) so that's over a 30% discount for using dollars. The same would be true of pound sterling, they would probably accept one pound for 1,000 T Sh, which makes the exchange rate even more discounted.

However, if you go to a bureau de change they will exchange your pound sterling or dollars into local currency at the going rate; they you can use their local currency while you are there.

One word of caution, always exchange your T Shillings back into your dollars or pounds before leaving, you can't do it anywhere else.

Brisbane, Australia
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3. Re: Best Currency in Tanzania

And don't forget when you are taking US cash over there. You must have no older then 2005 (so, 05,06,07,08,09,10). The newer and crisper the better.

Make sure the notes are not torn or have any writting on them. Also when reciveing change in US$ make sure that you recieve it in good order.

The exception is with $US1. Where anything goes.. just make sure it is not ripped.

Don't even think about the coins. In either US, Euro or pounds. The will not take it..

And to get the change back into Tz shillings.. goes something like this

$US100 x 1300 = tz 130'000

Tz 130'000 / 1100= $US118

No I am not kidding. there is a very big difference in the rate.

Even the different note sizes wil give you a different rate.

I would change your currency for what you need in Arusha. If you are going to Dar/Zan the rate i even better there. Change more there for what you need.

*And always count your currency change and get a recipt* Some places are re-known for cheating guests.

Zanzibar
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4. Re: Best Currency in Tanzania

Update:

Current conversion ratio for Zanzibar is

US$ 1 - Tsh:1,400

US$ 50- 100 = Tsh: 1,420

And it seems to go up every week.

Regards,

Zanzilandholidays

Brisbane, Australia
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5. Re: Best Currency in Tanzania

So wish i was ther edoing some exchanging and buying :)

North Wales
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6. Re: Best Currency in Tanzania

Thanks everyone, you've all been a great help. We're really looking forward to finally getting to Tanzania. Had booked to go last year but our travel company pulled the plug on us at the last minute!

Fremont, CA
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7. Re: Best Currency in Tanzania

Also, what is the best place to exchange US $ to T Shillings ? In JRO airport ? or Arusha ? We are reaching Arusha hotel in the night and probably will start safari before local bank would open (I guess) ?

Findlay, Ohio
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for Tanzania, Ngorongoro Conservation Area
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8. Re: Best Currency in Tanzania

There are 3 or 4 Bureau de Changes located about one block from the Arusha Hotel. They are up the street from the clock tower on Boma Street, about a 3 minute walk. You can also use those in the airport. And I believe they open early in the morning and don't have banker's hours.

Don't use a bank they take too long with all their bureaucratic paperwork and ways of doing things. At some banks it has taken me over an hour to exchange money (I only go there when there is no other choice.) At a Bureau you check the rates on the signboard outside, walk in, give them your dollars, and they immediately give you your T Shillings, all very quick and provide you with a receipt.

One thing to remember, before you leave Tanzania take your T Shillings back to a Bureau and get them exchanged back into your currency. Almost impossible to do this once you leave the country.

Findlay, Ohio
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for Tanzania, Ngorongoro Conservation Area
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9. Re: Best Currency in Tanzania

The current rate of exchange is - As of 21 May 2010 Buying USD 1,409.42 Selling 1,489.42

This means that if you're buying T Shillings in exchange for US Dollars you will get 1,409.42 for each dollar.

If you're selling T Shillings in exchange for US Dollars (which you will need to do before leaving the country) you will receive $1 for each 1,489.42 in T Shillings.

This was published today by the Bank of Tanzania, some Bureau de Changes will offer better then this, some less then this. The spread between buying and selling is typically about 5%.

10. Re: Best Currency in Tanzania

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Edited: 21 May 2010, 14:35