The dinar’s exchange rate against the euro continued its gradual appreciation, compared with its level in December 2023, appreciating by 0.2% in May 2024, after an average appreciation of 0.6% in the previous month, according to data released by the Central Bank of Tunisia (BCT) on Thursday.
Against the US dollar, the dinar depreciated by 0.7% in May, while in April 2024 it depreciated by 1.3% compared to its level in December 2023.
For the first five months of 2024 as a whole, the dinar depreciated by 1.1% against the euro, compared with a depreciation of 2.2% a year earlier.
Against the US dollar, the exchange rate depreciated by 1%, following a depreciation of 3.8% in the previous year.
In effective terms, the nominal exchange rate of the dinar continued to depreciate at a moderate pace in the first five months of 2002.
Regarding the real effective exchange rate (REER), the BCT notes that the appreciation trend that started in 2023 continued in the current year.
It appreciated by an average of 3.1 percent in the first five months of 2024, compared with an appreciation of 0.6 percent in the previous year, thus contributing to the easing of exchange rate pressures on price formation and the continuation of the gradual disinflation process.
