Tunisian dinar

Infobox Currency
currency_name_in_local = دينار تونسي ar icon
image_1 = Unknown origin coin 7.jpg
image_title_1 = 20 milim
iso_code = TND
using_countries = TUN
inflation_rate = 4.5%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2006 est.
subunit_ratio_1 = 1/1000
subunit_name_1 = milim
symbol = د.ت (Arabic) or DT (Latin)
frequently_used_coins = 5, 10, 20, 50, 100 milim, ½, 1, 5 dinar
rarely_used_coins = 1, 2 milim
frequently_used_banknotes = 10, 20, 30 dinar
rarely_used_banknotes = 5 dinar
issuing_authority = Central Bank of Tunisia
issuing_authority_website = www.bct.gov.tn

The dinar (Arabic: دينار, ISO 4217 currency code: "TND") is the currency of Tunisia. It is subdivided into 1000 milim (مليم). The abbreviation "DT" seems to be used infrequently (TND is just as likely and writing "dinar" after the amount seems to be the norm); the abbreviation TD is also mentioned in a few places, but seems unlikely to be correct given the French derivation (i.e., Dinar tunisien).

History

The dinar was introduced in 1960, having been established as a unit of account in 1958. It replaced the franc at a rate of 1000 francs = 1 dinar. The dinar did not follow the devaluation of the French franc in 1958, resulting in the initially exchange rate of 1000 French francs = 1 dinar being abandoned. Instead a peg to the United States dollar of 0.42 dinar = 1 dollar was established which was maintained until 1964, when the dinar devalued to 0.525 dinar = 1 dollar. This second rate was held until the dollar was devalued in 1971.

Coins

In 1960, aluminium 1, 2 and 5 milim and brass 10, 20, 50 and 100 milim coins were introduced. The 1 and 2 milim were last issued in 2000 and 1983 respectively, and are today rarely encountered. In 1968, nickel ½ dinar coins were introduced, replaced by smaller, cupro-nickel pieces in 1976, when cupro-nickel 1 dinar coins were also introduced. Bimetallic 5 dinar coins were introduced in 2002.

Coins in circulation are [ http://www.bct.gov.tn/english/musee/ ] (link includes current and historic coins and banknotes)
*5 milim
*10 milim
*20 milim
*50 milim
*100 milim
*½ dinar
*1 dinar
*5 dinar

Banknotes

In 1960, banknotes were introduced by the Central Bank of Tunisia in denominations of ½, 1 and 5 dinar. These were followed by 10 dinar notes in 1969. The last ½ dinar notes were dated 1973 whilst the last 1 dinar notes were dated 1980. 20 dinar notes were introduced in 1980, with the last 5 dinar notes dated 1993. 30 dinar notes were issued in 1997.

Popular nomenclature

Tunisians rarely use the main division, dinar, when mentioning prices of goods...etc. Accordingly, 50 dinar would be, naturally, referred to as "khamsin alf" (fifty thousand). This convention is used even for higher prices, for example 70,000 dinars would be called "sab'in maliun" (seventy million).

Currency restrictions

It is a criminal offence in Tunisia to import or export dinar. No more than 4000 Tunisian dinar can be converted into foreign currency before departure from the North-African country. [ [http://www.smarttraveller.gov.au/zw-cgi/view/Advice/Tunisia Travel Advice for Tunisia - Australian Department of Foreign Affairs and Trade ] ] , [ [http://www.voyage.gc.ca/dest/report-en.asp?country=299000 Travel Report for Tunisia ] ] Therefore, prices at duty-free shops are in convertible currencies like euros, US dollars and British pounds. There are many converting ATMs in the country for tourists. It is necessary for anyone leaving Tunisia to declare any cash in their possession exceeding the equivalent of UK£500 beforehand. [ [http://www.fco.gov.uk/servlet/Front?pagename=OpenMarket/Xcelerate/ShowPage&c=Page&cid=1007029390590&a=KCountryAdvice&aid=1013618386811 Travel Advice by Country Foreign & Commonwealth Office ] ]

References

ee also

* Economy of Tunisia

External links

Standard numismatics external links
world_coin_gallery_1_url = Tunisia
world_coin_gallery_1_name = Tunisia
banknote_world_1_url = tunisia
banknote_world_1_name = Tunisia
dollarization_1_url = tn
dollarization_1_name = Tunisia
gfd_1_url = Tunisia
gfd_1_name = Tunisia
gfd_data_1_url = 6150
gfd_data_1_name = Tunisia Dinar
show_gfd_excel = Y