In a recent note on “monetary and cyclical developments and medium-term outlook”, the Central Bank of Tunisia (BCT) noted that the continued decline of foreign exchange earnings has amplified the pressure on the exchange rate, which resulted in a significant depreciation of the dinar against other major currencies.
The dinar depreciated by an average of 5.5% against the dollar, as well as vis-à-vis the euro during the first half of 2016, compared with its level a year earlier, the BCT added.
