Uganda, Tanzania, and Kenya were once part of the East Africa Community (EAC), an economic union that shared the same currency – and this made it very easy for travelers. However, because of ideological differences, the EAC countries split and in 1977 and now each country now has its own currency, which is commonly referred to as the shilling.

With any of the major currencies, such as the British Pound, European Euro or American dollar, travelers can exchange money at exchange bureaus across the countries. The exchange bureaus are generally located only in the major cities, and it’s best to make this the first thing to do when arriving in the country. Usually at all airports, there is an exchange office, although the rates tend to be much worse than the bureaus. Most people exchange a small portion at the airport and then look for bureaus afterwards. It’s important to shop around at various bureaus in East Africa, as some will offer drastically different rates than others. If you exchange at a hotel, or say a safari lodge, your exchange rate will be worse than in a bank. Most places take travelers checks, but there is usually a commission.

ATMs
An increasingly better way to get a good exchange rate, while not packing around loads of money, is to use ATMs which are slowly becoming more popular – and are now available in the major cities. Although they charge around $1.50 per transaction, you will get the going market rate through your bank, which are always better than the bureaus. You can usually withdraw in one transaction about $300 per day. The downside of relying on ATMs is they tend to be broken often (only for a short period) or electricity outages can sometimes happen for a few days.

Blackmarket
In a few places, such as Dar es Salaam, Tanzania and Nairobi, Kenya, people will approach you on the streets, offering a better exchange rate than the banks. They generally walk up to you, hold a piece of paper in front of you, and try to explain that they can get a better exchange. While in some countries, it might be worth you time. In East Africa, it’s not – and you should just avoid them altogether. The difference between their exchange rates and the banks is so miniscule that it’s not even worth your time it to subject yourself to the problems you could encounter with doing an illegal transaction. Most of these guys either have plans to a) rob you, b) have one of their friends rob you (like a fake policemen) or have some other scam going. You should just say a polite, “no” and avoid them entirely

Exchange Rates

Euros
1 Euro = 96.57714 Kenyan Shilling
1 Euro = 2,389.29 Uganda Shilling
1 Euro = 1,424.84 Tanzanian Shilling

US Dollars
1 Dollar = 76.91100 Kenyan Shilling
1 Dollar = 1,902.75 Uganda Shilling
1 Dollar = 1,134 Tanzanian Shilling

British Pounds
1 British Pound = 145.089 Kenyan Shilling
1 British Pound = 3,617.31 Uganda Shilling
1 British Pound = 2,141.63 Tanzanian Shilling