Tunisia, January 3, 2019


Tunisian Dinar Collapses In Parallel Exchange Market Eastern Algeria

Over the past few days, the Tunisian dinar’s exchange rate noticed an unprecedented collapse in the parallel market, where the currency traders have spread on roadsides in the villages and border municipalities of El Tarf, Souk Ahras and Tebessa (eastern Algeria), carrying bundles of Tunisian dinar, which is offered at the amount of DZD 5800 for 100 Tunisian dinars, which is an unprecedented decline in the exchange rate.

Tunisian currency has never reached less than DZD 7,000, even in the worst case and even during the violent events in Tunisia in early 2010, which led to the departure of the former Tunisian President, Zine El Abidine Ben Ali, where the Tunisian dinar kept its value, especially in light of Tunisia’s annual high number of Algerian tourists, who prefer Tunisia as a destination of tourism, treatment or even for the acquisition of some types of vegetables and fruits that prohibited from import in Algeria, or expensive, and some of them travel specifically for the acquisition of some Fish that are expensive in Algeria.

The decline in the value of the Algerian dinar against other currencies did not accompany the Tunisian dinar to maintain its position, as some currency traders attributed the reason for the decline of the Tunisian dinar exchange rate in the parallel market, to a number of factors, the most important of which is the increasing demand of Tunisians to cross the border for shopping and acquire various purposes from Al Eulma, Ain Fakroun, Ain Amalila, Constantine and other markets eastern Algeria, in light of the rise in the prices of various products in Tunisia, which made the demand on the Algerian Dinar against the abundance in the Tunisian dinar.

Some traders in Algeria, who are used to deal with Tunisian shoppers traded their goods in Tunisian currency, which contributed to its large presence and led to a drop in its price.

Currency traders suggested that the coming days would be more black on the Tunisian currency after the convoys of thousands of Algerians who traveled to Tunisia during the winter holidays.

Passengers’ number towards Tunisian territory dropped, signaling a new collapse in the exchange rate of the Tunisian dinar, which exceeded a few months ago, specifically during the summer vacation, the amount of DZD 7,500 dinars for 100 Tunisian dinars.


Forex News Headline

Forex Market Video