Introduction of the New 50 Dinar Bill in Tunisia Sparks Debate
The introduction of the new 50 dinar bill (2022 edition) into circulation on September 23 continues to spark debate in Tunisia, not only about its usefulness in combating the parallel economy but also about its printing costs.
Controversy Surrounding the New Bill
During an appearance on Radio Diwan FM, commentator Mahmoud Hajri posed a question that has intrigued many Tunisians: "What is the real cost of producing a 50 dinar bill?" He emphasized that this new denomination, intended to increase the availability of liquidity, is already the subject of intense speculation. In fact, the bill is being exchanged on the black market at a price higher than its face value, sometimes reaching 51 or 52 dinars.
Analysis of the Situation
According to Hajri, this phenomenon reflects an exceptional demand and a climate marked by a shortage of fiat currency. He sees this as a form of "premium" that actors in the informal economy are willing to pay to access highly sought-after bills. This situation also reflects, in his opinion, the extent of monetary speculation in the country.
Expert Insights
Professor of banking law Mohamed Nekhili confirmed that this category of bills is experiencing a significant deficit in the market. He explains this tension through two main factors: the ease of storing this high-value denomination and the persistence of a cash payment culture. These two elements are driving up demand, to the point where the bill is sometimes negotiated with a surcharge of five dinars in informal circuits.
Central Bank's Position
The Central Bank of Tunisia (BCT) recalled that the new 50 dinar bill does not fundamentally differ from the previous version, except for the issue date (now set at July 25, 2025) and the current signatures of the governor, Fathi Zouhair Nouri, and his deputy. The institution specified that this bill will circulate jointly with the existing denominations and retains the same liberatory power.
Objectives of the New Bill
For the BCT, this operation aims to meet a strong market demand and absorb part of the monetary mass circulating in the parallel economy. However, the question posed by Hajri - "what is the cost of producing a bill?" - continues to fuel citizens' curiosity, while the exact production costs remain confidential.
