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About this currency pair
Tanzanian Shilling (TZS) — the currency of Tanzania
The Tanzanian shilling replaced the East African shilling after independence-era monetary changes. The Tanzanian Shilling is used in Tanzania, where it provides the reference for local prices, wages, public payments, bank accounts and invoices. Conversions are commonly used for remittances, import pricing, travel, development projects, commodity trade and comparisons with USD, EUR or regional currencies. The shilling name reflects a historical monetary tradition that remains in use in parts of East Africa and nearby regions.
Euro (EUR) — the shared currency of the eurozone
The euro is the shared currency of the eurozone, used across many European economies rather than a single country. It was introduced for accounting and electronic payments in 1999 and euro cash followed in 2002, making it a common reference for travel, online shopping, invoices, salaries, savings and cross-border business inside Europe. It is also one of the main currencies followed in global foreign-exchange markets.