Tunisian dinar falls to lowest rate in years

The Tunisian dinar fell to its lowest rate in years trading at 2.83 against the euro and 2.412 against the US dollar.

Authorities explained the decline saying that Tunisia did not receive the last instalment from the International Monetary Fund (IMF) loan which would have contributed to helping the country’s foreign currency reserves recover. The authorities added that revenues from tourism have not been taking into account because the season had not ended yet.

Economists predict the Tunisian dinar will continue to fall against foreign currencies in light of the current situation.

The Tunisian government faces a continuing deficit in the trade balance as well as a decline in the tourism and investment sector which led to the fall in exchange rates.

Economists believe that it is only a matter of time before the dinar is floated, especially that is one of the prerequisites of the IMF loan.

Middle East Monitor

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