DEFINITION of 'TZS (Tanzanian Shilling)'
The currency abbreviation for the Tanzanian shilling (TZS), the currency for Tanzania. The Tanzanian shilling is made up of 100 senti (Swahili for cents), and is often presented in the form x/y. In the x/y form, the x is the amount in shillings and y is the amount in senti.
For example 25 shillings would be written as "25/-" or "25/=", while 25 senti would be written as "-/25" or "=/25".
BREAKING DOWN 'TZS (Tanzanian Shilling)'
The Tanzanian shilling, or shilingi in Swahili, is the currency of Tanzania, even though the use of the U.S. dollar is widespread. The Tanzania shilling has been in use since 1966, when it replaced the East African shilling at a rate of 1:1.