Tunisian Dinar

Overview

The Dinar is the official currency of several countries including Libya, Algeria, Iraq, Jordan, and Tunisia. Located in northern Africa, Tunisia is bordered by the Mediterranean Sea to the north, Algeria to the west, and Libya to the east. The common currency symbol for the Tunisian Dinar is TD.

Economy

• Tunisia has a varied economy, including industry, agriculture, mining, petroleum products, and tourism.
• The industrial sector consists of clothing manufacturing and the production of electric machinery and automotive parts.
• Tunisia has one the most competitive economies in Africa and ranks 36th globally.
• The agricultural sector flourishes, producing goods such as olives, grain, dairy products, citrus fruit, beef, and almonds.
• Tunisia maintains a close economic relationship with a number of European nations, which accounts for a substantial amount of the country’s exports.
• While not the main source of revenue for Tunisia, tourism is still a major source of revenue and foreign exchange.

History

• The Dinar and/or any variants is currently used by at least ten countries.
• The Dinar was introduced in Tunisia in 1960, replacing the Franc as the principal form of currency in the country. It was set as a rate of 1,000 Francs = 1 Dinar.
• After its introduction in 1960, the subunit of the Tunisian Dinar, known as the millim, was cast in aluminum 1,2, and 5 millim coins and in brass 10, 20, 50, and 100 millim coins.
• Later ½ dinar, 1 dinar and 5 dinar coins were cast and put into circulation.
• After 1960, Dinar banknotes were distributed only in denominations of ½ dinar, 1 dinar, and 5 dinar.
• The ½ dinar and 1 dinar notes were soon taken out of circulation and replaced by coins of the same value. Banknotes of 10, 20, 30, and 50 dinar denomination were also printed.