The
dinar
The dinar () is the name of the principal currency unit in several countries near the Mediterranean Sea, with a more widespread historical use. The English word "dinar" is the transliteration of the Arabic دينار (''dīnār''), which was bor ...
(,
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individ ...
code: TND) is the national currency of
Tunisia
Tunisia, officially the Republic of Tunisia, is a country in the Maghreb region of North Africa. It is bordered by Algeria to the west and southwest, Libya to the southeast, and the Mediterranean Sea to the north and east. Tunisia also shares m ...
. It is subdivided into 1000 milim or millimes (). The abbreviation ''DT'' is often used in Tunisia, although writing "dinar" after the amount is also acceptable (TND is less colloquial, and tends to be used more in financial circles); the abbreviation ''TD'' is also mentioned in a few places, but is less frequently used, given the common use of the French language in Tunisia, and the French derivation of ''DT'' (i.e., ).
Etymology
The name "dinar" is derived from the Roman
denarius
The ''denarius'' (; : ''dēnāriī'', ) was the standard Ancient Rome, Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the ''antoninianus''. It cont ...
, used in the
Africa province
Africa was a Roman province on the northern coast of the continent of Africa. It was established in 146 BC, following the Roman Republic's conquest of Carthage in the Third Punic War. It roughly comprised the territory of present-day Tunisi ...
, the ancient territory of
Carthage
Carthage was an ancient city in Northern Africa, on the eastern side of the Lake of Tunis in what is now Tunisia. Carthage was one of the most important trading hubs of the Ancient Mediterranean and one of the most affluent cities of the classic ...
, modern day Tunisia.
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, thus the exchange rate peg was abandoned. Instead a peg to the
United States dollar
The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...
of 1 dinar = 2.38 dollars was established which was maintained until 1964, when the dinar devalued to 1 dinar = 1.90 dollars. This second rate was held until the dollar was devalued in 1971.
Tunisia had a historically low inflation. The dinar was less volatile in 2000–2010 than the currencies of its oil-importing neighbors, Egypt and Morocco. Inflation was 4.9% in fiscal year 2007–08 and 3.5% in fiscal year 2008–09. However, the value of the currency has been falling since then, and between 2008 and 2018, the dinar depreciated by about 55% against the U.S. dollar, from 76¢ to 34¢, and about 46% against the euro, from 55 cents to 30 cents.
Coins
In 1960, aluminium 1, 2 and 5 millime and brass 10, 20, 50 and 100 millime coins were introduced. The 1 and 2 millimes were last issued in 1990 and 1983 respectively, and are no longer legal tender. In 1968, nickel 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.
Coin
A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by ...
s in circulation are (link included current and historic coins and banknotes)
*
5 millimes
*10 millimes
*20 millimes
*50 millimes
*100 millimes
*200 millimes
* dinar
*1 dinar
*2 dinars
*5 dinars
On 26 December 2013, two new tridecagonal coins were introduced: 200 millimes (copper-zinc, 29 mm diameter, 1.80 mm thickness, 9.4 gr. weight) and 2 dinar (copper-nickel, 29.4 mm diameter, 1.90 mm thickness, 11.2 gr. weight).
Banknotes
On 3 November 1958, banknotes were introduced by the
Central Bank of Tunisia in denominations of , 1 and 5 dinars. The designs of these denominations were changed with a series of notes dated 1-6-1965, but issued on 3 March 1966. A 10-dinar note dated 1-6-1969 was issued on 2 January 1970. The last -dinar notes were dated 1973-10-15 whilst the last 1-dinar notes were dated 1980-10-15. 20-dinar notes dated 1980-10-15 were introduced on 26 December 1984. 30-dinar notes were issued between 1997 and 2011. 50-dinar notes dated 2008 were issued on 25 July 2009. On 8 November 2005, an updated version of the frequently used 10-dinar note was issued.
After the fall of the Ben Ali regime in Tunisia on 14 January 2011, a new set of banknotes was issued progressively to replace the banknotes bearing motifs of the Ben Ali regime; on 31 December 2019, those notes issued prior to 2011 were completely demonetized. Previous issues had ceased to be used for several years beforehand but were still exchangeable at the Central Bank until that date.
A second redesigned series was issued from 2017, beginning with a redesigned 20-dinar note issued in 2017 and a redesigned 10-dinar note in 2020. As of 2020, the 20 and 50 dinar notes issued 2011 and the 5 and 10 dinar notes issued 2013 were in use as well as the new series. At that time, 50 dinar notes were withdrawn from circulation when sent to the Central Bank in the course of their circulation while a new design hadn't been confirmed yet. In 2022, new banknotes of 5 and 50 dinars were introduced.
Popular nomenclature
Tunisians sometimes do not use the main division, dinar, when mentioning prices of goods. Accordingly, one dinar and a half is often referred to as (literally fifteen hundred). This applies to all prices below 2 dinars. 50 dinar is often referred to as (fifty thousand). This convention is used even for higher prices, for example 70,000 dinars would be called (seventy million). "Francs" is also still heard from time to time, 1000 of them colloquially representing a single dinar.
In addition to that, Tunisians tend to use the word "frank" instead of millime. For example, 100 millimes (0.1 dinars) is referred to as "miyat frank" (literally 100 franks). The word Frank originated from the French colonial era.
Currency restrictions
It is a criminal offense in
Tunisia
Tunisia, officially the Republic of Tunisia, is a country in the Maghreb region of North Africa. It is bordered by Algeria to the west and southwest, Libya to the southeast, and the Mediterranean Sea to the north and east. Tunisia also shares m ...
to import or export dinar, as it is a closed currency. Every year, each citizen can convert into foreign currency up to 6,000 Tunisian dinars before departure from the country. Therefore, prices at
duty-free shops are in convertible currencies such as
euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...
s,
US dollars
The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it int ...
and
British pounds. There are many converting
ATMs in the country for tourists.
See also
*
Economy of Tunisia
*
Carthaginian shekel
*
Denarius
The ''denarius'' (; : ''dēnāriī'', ) was the standard Ancient Rome, Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the ''antoninianus''. It cont ...
*
Tunisian rial or piastre
*
Tunisian franc
The franc (French language, French, ) was the currency of Tunisia between 1891 and 1958. It was divided into 100 centimes (صنتيم) and was equivalent to the French franc.
History
The franc replaced the Tunisian rial, rial in 1891 at the rate ...
*
Algerian dinar
*
Libyan dinar
References
External links
Historical banknotes of Tunisia
{{DEFAULTSORT:Tunisian dinar
Economy of Tunisia
Currencies introduced in 1960
Currencies of Africa
Circulating currencies
Dinar