Exchange rate of Dinar against Euro depreciated by 1.1%, late in May 2024 (BCT)

The exchange rate of the Dinar depreciated against the Euro by 1.1% (year-on-year - YOY), over the first five months of 2024, against a depreciation of 2.2% a year earlier, according to the note, recently published, by the Central Bank of Tunisia (BCT), on «Economic and Monetary Developments/Inflation Prospects.»Against the US Dollar, the exchange rate depreciated by 1%, after a depreciation of 3.8% a year earlier.«In effective terms, the depreciation of the nominal exchange rate of the Dinar (TCEN) continued to evolve at a moderate pace, during the first five months of 2024. Regarding the real effective exchange rate (REER), the tendency to the assessment, which began in 2023, continued during the current year. It appreciated by 3.1% (Y.O.), on average, during the first five months of 2024, compared to an appreciation of 0.6% a year earlier, thus helping to alleviate pressures from of the exchange rate, on the formation of prices and the continuation of the gradual easing of inflation," the BCT said.S ource: Agence Tunis Afrique Presse