TZS to GYD

GYD - Guyanaese Dollar (GYD)

Guyanaese Dollar

The Guyanese Dollar is the official currency of Guyana, a sovereign state on the northern coast of South America. It is culturally identified with the English-speaking islands of the Caribbean because it was one of the territories, known as British Guiana, of the British West Indies.

The Guyanese Dollar is the currency in Guyana (GY, GUY). The symbol for GYD can be written G$. The Guyanese Dollar is divided into 100 cents. The exchange rate for the Guyanese Dollar was last updated on May 24, 2019 from Yahoo Finance. The GYD conversion factor has 5 significant digits.

Economy

• The main economic activities in Guyana are agriculture (rice and Demerara sugar), bauxite mining, gold mining, timber, and shrimp fishing.
• Chronic problems include a shortage of skilled workers and poor infrastructure.
• The government has juggled a considerable debt and the urgent need to expand public investment, and its fiscal position traditionally erodes when agricultural and mineral commodity prices are low. The country overhauled its tax code in early 2007 with a Value Added Tax (VAT) that is expected to add significant funds for public spending.
• The Guyanese economy has shown moderate economic growth since 1999, thanks to the expansion in the agricultural and mining sectors, a more favorable environment for entrepreneurship, a more realistic exchange rate, low inflation, and the continued support of international organizations.
• Economic growth has slowed as a result of the world recession, but GDP real growth rate continues to be over 3%, according to the CIA World Fact Book.

History

• In the 1800s, like other British West Indies territories, British Guiana used regular British coins, along with 2 and 4 pennies.
• The Guyanan Dollar shares the history of currency with other territories in the British West Indies, with a few exceptions: British Guiana continued to use the four-pence coin mill when other territories abandoned it, and used Dollar accounts in public and private sectors exclusively from 1839 (whereas other territories used a mix of accounts in Dollars and the British Pound until 1951).
• Between 1891 and 1916, four-cent coins were issued specifically for "British Guiana and the West Indies," and between 1917 and 1945 for "British Guiana".
• In 1916, paper money was first issued by the Government of British Guiana, in denominations of 1, 2, 5, 20 and 100 dollars.
• Guyana gained independence from United Kingdom on May 26, 1966, and became a republic on February 23, 1970.
• Banknotes were introduced in 1966 in denominations of 1, 5, 10 and 20 Guyanese Dollars. A second series was issued between 1989 and 1992 in denominations of $20, 100 and 500. The 1996-1999 series added a $1,000 bill. New $100 and $1,000 bills were issued in 2005 with added safety features.

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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.

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