TUNISIA 100 MILIM 1983 KM#309 DECIMAL COINAGE BU #2

History of Tunisian Dinar

The dinar (Arabic: دينار, ISO 4217 currency code: TND) is the currency of Tunisia. It is subdivided into 1000 milim (مليم). The abbreviation DT is often used in Tunisia, although writing "dinar" after the amount is also acceptable (TND is less colloquial, and tends to be used more in financial circles); the abbreviation TD is also mentioned in a few places, but is less frequently used, given the common use of the French language in Tunisia, and the French derivation of DT (i.e., Dinar tunisien).

History
The dinar was introduced in 1960, having been established as a unit of account in 1958. It replaced the franc at a rate of 1000 francs = 1 dinar. The dinar did not follow the devaluation of the French franc in 1958, resulting in the initially exchange rate of 1000 French francs = 1 dinar being abandoned. Instead a peg to the United States dollar of 0.42 dinar = 1 dollar was established which was maintained until 1964, when the dinar devalued to 0.525 dinar = 1 dollar. This second rate was held until the dollar was devalued in 1971.

Coins
In 1960, aluminium 1, 2 and 5 milim and brass 10, 20, 50 and 100 milim coins were introduced. The 1 and 2 milim were last issued in 1980 and 1983 respectively, and are no longer legal tender. In 1968, nickel ½ dinar coins were introduced, replaced by smaller, cupro-nickel pieces in 1976, when cupro-nickel 1 dinar coins were also introduced. Bimetallic 5 dinar coins were introduced in 2002.

Coins in circulation are:

* 5 milim
* 10 milim
* 20 milim
* 50 milim
* 100 milim
* ½ dinar
* 1 dinar
* 5 dinar

Popular nomenclature
Tunisians sometimes do not use the main division, dinar, when mentioning prices of goods...etc. Accordingly, 50 dinar would be, naturally, referred to as khamsin alf (fifty thousand). This convention is used even for hfunksigher prices, for example 70,000 dinars would be called sab'in maliun (seventy million" is also still heard from time to time, 1000 of them colloquially representing a single dinar.

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