TND - Tunisian Dinar

Tunisian Dinar overview

The Tunisian Dina was introduced in 1960, replacing the Tunisian franc. It is subdivided into 1,000 millimes. The currency is represented by the symbol "DT" or د.ت in Arabic, and it is issued and managed by the Central Bank of Tunisia.

As the official currency of Tusinia, the Dinar plays an essential role in the country's economy, being used in all domestic financial transactions, including those related to key sectors such as agriculture, petroleum, and tourism. Notably, the Tunisian Dinar is not freely traded on international markets.

History and Development of the Tunisian Dinar

The Tunisian Dinar was first introduced in 1960, when Tunisia decided to replace the French franc, which had been the currency during the French colonial period. At that time, the exchange rate was set at 1 dinar = 1,000 francs. Moreover, Tunisia was not affected by the devaluation of the French franc in 1958. Instead, the dinar was initially pegged to the US dollar at an exchange rate of 1 dinar = 2.38 USD, a rate that remained in place until 1964.

The name "dinar" is derived from the Roman denarius, which was used in the ancient Carthage region – now Tunisia. This connection highlights the deep historical ties between the currency and the region's past.

Tunisian Dinar denominations

Currently, the Tunisian Dinar is circulated in two main forms: coins and banknotes. Each type of currency is issued in different denominations.

Tunisian Dinar coins

The dinar coins were first introduced in 1960 with small denominations, including:

• 1 millimes (aluminum)

• 2millimes (aluminum)

• 5 millimes (aluminum)

• 10 millimes (brass)

• 20 millimes (brass)

• 50 millimes (brass)

• 100 millimes (made of brass). 

Over time, new coins were issued to meet practical needs. Currently, the coins in circulation in Tunisia include smaller denominations such as:

• 5 millimes

• 10 millimes

• 20 millimes

• 50 millimes

• 100 millimes

• 200 millimes

• ½ dinar

• 1 dinar

• 2 dinars

• 5 dinars

Notably, the 5 dinar coin is bimetallic and was issued in 2002. In 2013, Tunisia introduced two new coins - the 200 millimes and 2 dinar - with a unique 13-sided (tridecagonal) design.

Tunisian Dinar banknotes

The first dinar banknotes appeared in 1958, with denominations of ½, 1, and 5 dinar. Over the years, the design of the banknotes has changed, and larger denominations have been added, including 10, 20, 30, and 50 dinars. Each banknote features historical figures or notable landmarks of Tunisia.

In 2020, a new 10 dinar banknote was introduced, marking a significant step in modernizing Tunisia's currency system. In 2022, the Central Bank of Tunisia introduced new 5 and 50 dinar banknotes, featuring modern designs and enhanced security features. Banknotes issued before 2011 were fully withdrawn and ceased to be in circulation by the end of 2019.

Currently, the denominations of Tusinian Dinar banknotes include:

• 5 dinars

• 10 dinars

• 20 dinars

• 30 dinars

• 50 dinars

Special Features of the Tunisian Dinar

The Tunisian Dinar is considered a "closed" currency, meaning it cannot be imported or exported outside of Tunisia. Travelers cannot exchange dinars before arriving in Tunisia and must use local currency exchange services. Before leaving Tunisia, visitors must exchange any leftover dinar into another currency.

In addition to using cash, people and visitors in Tunisia can pay with credit or debit cards. However, electronic transactions are not widely used in rural areas, so cash remains the primary method of payment.

History of the Tunisian Dinar Exchange Rate

The value of the Tunisian Dinar has experienced significant fluctuations since its introduction. Initially, the currency maintained stability due to low inflation rates, but since 2008, the dinar has depreciated considerably. By 2018, the value of the dinar had dropped by approximately 55% against the US dollar and 46% against the euro. This reflects the economic challenges Tunisia has faced in recent years.

As of June 2024, the exchange rate for the Tunisian dinar is 1 USD = 3.09 dinar. The depreciation of the dinar against strong currencies like the US dollar and euro is one of the key factors affecting Tunisia's economy and its citizens.

Although the value of the dinar has changed over time, it still plays an important role in reflecting the culture and history of Tunisia. Visitors to Tunisia not only experience cultural landmarks but also hold in their hands the dinar, an essential part of exploring this country.

The Tunisian Dinar is not only a means of daily transactions but also a symbol of the nation's history and culture. Despite its fluctuations in value, the dinar remains a key element of Tunisia's economy and the daily life of its people. Exploring the dinar will help travelers gain a deeper understanding of the country's identity and the challenges it faces.