Tanzanian shilling

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/tanzanian-shilling

1. Who wrote Tanzanian shilling?
2. What is the official currency code?
3. What is the date of monetary transition?
4. When did the Tanzanian shilling start being used?
5. Why did Tanzania create its own shilling instead of using the East African shilling?

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. Who wrote Tanzanian shilling?Bank of Tanzania
2. What is the official currency code?TZS
3. What is the date of monetary transition?June 14, 1966
4. When did the Tanzanian shilling start being used?The shilling began circulation on June 14, 1966.
5. Why did Tanzania create its own shilling instead of using the East African shilling?Tanzania made its own shilling to have control over its money, like setting interest rates and deciding how much it is worth, so it could grow its own economy.

Monetary Policy: Actions undertaken by a central bank to manipulate the money supply and credit conditions to stimulate or restrain economic activity.
Legal Tender: Money that by law must be accepted as payment for debts.
Exchange Rate: The value of one currency for the purpose of conversion to another.
Inflation: A general increase in prices and fall in the purchasing value of money.