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Issuance of banknotes up 49% in value and 45% in volume in 2019 compared to 2018 (BCT)

March 22, 2021

(TAP)-The issuance of banknotes amounted to 2,810.5 million dinars (MD) corresponding to 142 million banknotes in 2019, an increase of 49% in value and 45% in volume compared to 2018, according to the Annual Report of the Central Bank of Tunisia (BCT) for 2019.

The mission of issuing and maintaining currency and facilitating its circulation in Tunisia is entrusted to the BCT under Law No. 2016-35 of April 25, 2016 establishing the status of the BCT.

These three processes of the fiduciary cycle constitute the cornerstones that help consolidate the confidence of economic operators in the national currency.

The most important issues during this period involved the 20-dinar note of the 2017 type (99% in value and 99% in volume), followed by the 10-dinar note of the 2013 type (1% in value and 1% in volume).

The BCT issues banknotes and coins to meet the economy's liquidity needs and to replace banknotes and coins in an advanced stage of wearing.

In 2019, the issuance of coins totalled 51 million coins for an amount of 10 MD showing a 19% rise in volume and a 9% drop in value compared to 2018.

In terms of value, the most important issues involved ½ dinar and 2 dinar coins with proportions of 46% and 27%, respectively.

Currency maintenance

The maintenance of banknotes and coins can be summed up as the withdrawal from circulation of unfit banknotes (used, counterfeit, mutilated, taped, etc.) in order to put back into circulation only genuine and good quality banknotes.

This so-called 'sorting' operation covered 446 million banknotes in 2019, with a countervalue of 6,621.5 MD, showing a decrease of 16% in volume and 16.7% in value compared to 2018.

It covered 74.4% of the volume of banknote deposits recorded in 2019 (599.1 million banknotes, i.e. 8,424.6 MDT) and allowed the recovery of 377.1 million banknotes valid for circulation, i.e. 84.6% of the total sorted banknotes.

The banknotes unfit for circulation are then destroyed by the BCT's machines and incidentally by incineration, as 33.3 million banknotes, 4% of which are no longer legal tender, were destroyed at the end of 2019.

The evolution of the issuance of banknotes and coins was not associated with an evolution of economic growth which was established at 1% in 2019 against 2.5% in 2018, and the various economic indicators including the inflation rate which reached 6.7% in 2019.

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