TZS to GBP

TZS - Tanzanian Shilling (TSh)
GBP - British Pound (£)
1 TZS1 GBP

Currency conversion rates from TZS to GBP

TZSGBP
1 TZS1 GBP
5 TZS5 GBP
10 TZS10 GBP
20 TZS20 GBP
50 TZS50 GBP
100 TZS100 GBP
250 TZS250 GBP
500 TZS500 GBP
1000 TZS1000 GBP
2000 TZS2000 GBP
5000 TZS5000 GBP
10000 TZS10000 GBP
GBPTZS
1 GBP1 TZS
5 GBP5 TZS
10 GBP10 TZS
20 GBP20 TZS
50 GBP50 TZS
100 GBP100 TZS
250 GBP250 TZS
500 GBP500 TZS
1000 GBP1000 TZS
2000 GBP2000 TZS
5000 GBP5000 TZS
10000 GBP10000 TZS

GBP - British Pound (£)

The British pound is the currency of the United Kingdom. It is the fourth most traded currency, behind the US dollar, the Japanese yen, and the euro. It is also the third most held reserve currency in the world. The pound is the oldest currency still in existence today.

The official currency of the United Kingdom is the British Pound (GBP), which is used in Great Britain, British Overseas Territories, the South Sandwich Islands, and the British Antarctic Territory, as well as Tristan de Cunha. The Pound is divided into 100 pence. Another name used for the Pound is Sterling. The symbol for the Pound is £.

Pound Sterling is the currency in Channel Islands (Aldernay, Guernsey, Jersey, Sark), Isle of Man, and United Kingdom (England, Great Britain, Northern Ireland, Scotland, Wales, UK, GB, GBR). Pound Sterling is also known as the British Pound, the United Kingdom Pound, UKP, STG, the English Pound, British Pound Sterling, BPS, and Sterlings. Pound Sterling is divided into 100 pence. The exchange rate for Pound Sterling was last updated on Today from The International Monetary Fund. The GBP conversion factor has 6 significant digits.

Economy

  • The United Kingdom is rated as the sixth-largest economy in the world.
  • The main industries range from aerospace to financial services.
  • Export products are beverages, tobacco, fuels, manufactured goods, chemicals, and food.
  • Import products are foodstuffs, fuels, machinery, and manufactured goods.
  • Unemployment is estimated at 7.6%.

History

  • It is difficult to estimate when the Pound originated; but sources indicate that the Pound was already in circulation during the Anglo-Saxon period. During the medieval period the Tealby penny was circulated and was the standard unit used until the 20th century.
  • In 1552, silver coinage was introduced made of sterling silver.
  • In 1663, gold coinage was introduced. The silver coinage remained and was used for importing goods; gold was used for exporting goods. This made Britain a gold standard country.
  • The first paper money was issued in 1694, after the Bank of England was established.
  • In 1861, the gold standard was adopted again.
  • In 1914, after the outbreak of World War I, the gold standard was abandoned and treasury notes became legal tender.
  • In 1940, the Pound was pegged to the US Dollar and later became part of the Bretton Woods system.
  • In 1971, the Pound was changed to a free-floating currency.
  • In 1976, the country had a Sterling crisis.
  • In 1988, the UK Treasury instituted a policy whereby movements of the British Pound "shadowed" those of the German Mark.
  • In 1990, the UK became part of the European Exchange rate mechanism, but withdrew in 1992.
  • The UK had the option to adopt the Euro in 1999, but declined.

More information about GBP - British Pound (£)


TZS - Tanzanian Shilling (tzs)

Tanzanian Shilling

The Shilling is the official currency of Tanzania, although the use of US Dollars is widely accepted. The Shilling is subdivided into 100 cents. The Tanzanian Shilling replaced the East African Shilling at par in 1966.

The Tanzanian Shilling is the currency in Tanzania (United Republic of Tanzania, TZ, TZA). The symbol for TZS can be written TSh. The Tanzanian Shilling is divided into 100 cents. The exchange rate for the Tanzanian Shilling was last updated on May 24, 2019 from Yahoo Finance. The TZS conversion factor has 5 significant digits.

Economy

  • Tanzania has embarked on a major restructuring of state-owned enterprises. The program has so far divested 335 out of some 425 parastatal entities.
  • Overall real economic growth has averaged about 4% a year, much better than in the previous 20 years, but not enough to improve the lives of average Tanzanians. The economy is heavily dependent on aid.
  • Tanzania has an external debt of $7.9 billion. The servicing of this debt absorbs about 40% of total government expenditures.
  • Tanzania has qualified for debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) initiative. Debts worth over $6 billion were canceled following implementation of the Paris Club 7 Agreement.

History

  • In 1966, coins were introduced in denominations of 5, 20, and 50 cents and 1 shilling. The 5-cent coin was struck in bronze, the 20-cent in nickel-brass, and the 50-cent and 1 shilling in cupro-nickel.
  • Cupro-nickel 5-shilling coins were introduced in 1972, followed by scalloped, nickel-brass 10-cent coins in 1977. This First Series coins set, in circulation from 1966 to 1984, was designed by Christopher Ironside OBE.
  • In 1987, nickel-clad steel replaced cupro-nickel in the 50-cent and 1-shilling coins, and cupro-nickel 5- and 10-shilling coins were introduced; the 5-shilling was octagonal.
  • In 1990, nickel-clad-steel 5, 10, and 20 shilling coins were introduced, followed by brass 100-shilling coins in 1994, 50-shilling coins in 1996, and 200- shilling coins in 1998. The coins presently in circulation are the 50, 100, and 200 shillings.

More information about TZS - Tanzanian Shilling (tzs)