Certainly! Here is the complete financial history report of Tanzania, translated into International English as requested:

Comprehensive Financial History Report of Tanzania

Basic Information about Tanzania

• Official country name: United Republic of Tanzania

• Official languages: English and Swahili (Kiswahili)

• Country ISO code: TZ

• Current official currency: Tanzanian Shilling (singular: Shilingi, plural: Shilingi or Shilingi nyingi)

• Currency ISO code: TZS

Monetary History of Tanzania

Current Currency: Tanzanian Shilling (Shilingi ya Tanzania)

• ISO Code: TZS

• Symbol: TSh or Sh

• Subdivision: 1 Shilling = 100 senti (cents)

• Date of introduction: 14 June 1966 (replaced the East African shilling)

• Circulation period: From 1966 to present (active)

• Mint: Produced by various international mints, including the Royal Mint (UK); Tanzania does not have a national mint.

• Issuing bank: Bank of Tanzania (Benki Kuu ya Tanzania)

• Coin denominations: 5, 10, 20, 50, 100, 200, and 500 shillings (smaller coins like 5 and 10 shillings are rarely used due to inflation)

• Banknote denominations: 500, 1,000, 2,000, 5,000, 10,000, and 20,000 shillings

• Designs and symbols:

  • Banknotes feature prominent Tanzanian leaders (including Julius Nyerere, the nation’s first president), cultural heritage, wildlife, and national landmarks.

  • Coins typically depict national symbols such as the Tanzanian coat of arms, native animals, and agricultural motifs.

• Status: Official and actively circulating currency.

• Monetary legislation: Regulated by the Bank of Tanzania under the Bank of Tanzania Act and related financial laws.

• Curiosities:

  • In 2011, Tanzania issued a new series of banknotes with enhanced security features.

  • Commemorative coins have been issued for national milestones, such as independence anniversaries.

Previous Currency: East African Shilling

• ISO Code: EAS (historical)

• Circulation period: 1921 to 1966 (used in British East African territories including Tanganyika, Kenya, Uganda)

• Context: Replaced by the Tanzanian Shilling after independence and the formation of Tanzania.

• Status: No longer in circulation; a collector’s item.

Economic and Monetary Context

• Tanzania’s economy is diverse, including agriculture, mining, manufacturing, and tourism.

• The Tanzanian Shilling has experienced periods of inflation, especially during the 1980s and early 1990s, followed by stabilization efforts.

• The Bank of Tanzania manages monetary policy aiming to maintain price stability and support economic growth.

• Inflation rates have varied, with recent years typically seeing moderate inflation (around 3–5%).

• The Tanzanian government has undertaken reforms to modernize the financial sector and improve currency management.

• The currency remains vulnerable to external shocks due to reliance on commodity exports.

Summary of Tanzanian Currencies

Additional Information

• Signatures on banknotes: Banknotes bear signatures of the Governor of the Bank of Tanzania and the Minister of Finance.

• Notable figures honored: Julius Nyerere, Mwalimu (teacher) and founding father of Tanzania, appears prominently on banknotes.

• Commemorative issues: Tanzania has released commemorative coins and notes for independence anniversaries and other national events.

• Security features: Modern banknotes include watermarks, security threads, holograms, and color-shifting inks.

• Currency usage: The Tanzanian Shilling is the sole legal tender within Tanzania, with no parallel foreign currency circulation officially allowed.

• Monetary policy: The Bank of Tanzania targets inflation control and exchange rate stability, with the shilling freely floating against major currencies.

This report provides a detailed overview of Tanzania’s financial and monetary history, highlighting the Tanzanian Shilling as the current official currency, its evolution from the East African Shilling, and the economic context shaping its use.