Tunisia: volume of banknotes and coins in circulation exceeds 12.3 billion dinars

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    As Eid El-Adha approaches, the volume of banknotes and coins in circulation has reached a record level. It had exceeded the bar of 12.3 billion dinars on Monday, August 6, 2018.

    During the month of June, the volume of banknotes and coins crossed the threshold of 12 billion dinars, covering the summer season, the month of Ramadan and Eid el Fitr. Fiduciary circulation will continue to increase until the Eid El-Adha holiday.

    The analysis of the decomposition of the banknotes and coins in circulation in Tunisia shows the interference of several phenomena.

    On the one hand, the distribution by operator of the movements of entry and exit of the banknotes makes it possible to conclude that the National Office of Posts (ONP) is the one that contributes the most to the rise of the level of banknotes and coins in circulation.

    On the other hand, the study of counter movements allows a classification of the latter between those traditionally recording net outflows of banknotes and those recording net entries. Economic and social characteristics of the different regions are behind these phenomena.

    Moreover, this finding has made it possible to deduce that banknotes and coins in circulation withdrawn from the ONP in favor of an unbanked population (mainly retirees and construction workers), largely return to the banking system and the Treasury.

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