Tunisian dinar
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| Tunisian dinar دينار تونسي (Arabic) |
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| ISO 4217 Code | TND | ||
|---|---|---|---|
| User(s) |  Tunisia |
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| Inflation | 4.5% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/1000 | milim | ||
| Symbol | د.ت (Arabic) or DT (Latin) | ||
| Coins | |||
| Freq. used | 5, 10, 20, 50, 100 milim, ½, 1, 5 dinar | ||
| Rarely used | 1, 2 milim | ||
| Banknotes | |||
| Freq. used | 5, 10, 20 dinar | ||
| Rarely used | 30 dinar | ||
| Central bank | Central Bank of Tunisia | ||
| 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).
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[edit] 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.
[edit] 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 [1] (link includes current and historic coins and banknotes)
- 5 milim
- 10 milim
- 20 milim
- 50 milim
- 100 milim
- ½ dinar
- 1 dinar
- 5 dinar
[edit] 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.
The printing of the 30 dinar note has been outsourced to Edge Consulting. Frank Strickland, Minister of Treasury, and Herb Zimmerman, Commissioner of Trouser Coinage have been quoted in the press as being alarmed by the increase counterfeiting of the 30 dinar note. An individual,"Michael Sorenson", who operates under the codename "Bassam Abdul-Baki." Mr. Abdul-Baki is known for his very poor Arabic and his tendency to order really large, "veiny" hotdogs for lunch. Alleged operations of this individual in Gammereth, has been tracked.
Vijay Deshmukh, the Minister of Doubt, has indicated that these activities have raised many questions. First off, he does not understand why it is called a "hot dog" since its a not a dog. This is confusing. at least the "hot" part correct. However, the issue regarding the 30 dinar note also raises questions about how to make change. Can you simply cut the bill in half for a 15 dinar note? and what if it is folded? There should be rules about this. A memorandum has been drafted and submitted to Frank Strickland, the Minister of Treasury, however, it is being held in abeyance since plagiarism is suspected.
Banknotes in circulation are
- 5 dinar
- 10 dinar
- 20 dinar
- 30 dinar
[edit] 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).
[edit] 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.[2],[3] 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.[4]
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[edit] References
[edit] See also
[edit] External links
- Don's World Coin Gallery - Tunisia
- Ron Wise's World Paper Money - Tunisia Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Tunisia Mirror site
- The Global History of Currencies - Tunisia
- Global Financial Data data series - Tunisia Dinar
- Global Financial Data currency histories table (
Microsoft Excel format)
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