Economy of Tunisia
The Tunisian government adopted a unified investment code in 1993 to attract foreign capital. More than 1,600 export-oriented joint venture firms operate in Tunisia to take advantage of relatively low labor costs and preferential access to nearby European markets. Economic links are closest with European countries, which dominate Tunisia's trade. Tunisia's currency, the dinar, is not traded outside Tunisia. However, partial convertibility exists for bona fide commercial and investment transaction. Certain restrictions still limit operations carried out by Tunisian residents.
Tunisian franc
The franc replaced the rial in 1891 at the rate of 1 rial = 60 centimes. It consisted of both coins and banknotes produced specifically for Tunisia, although early banknotes were Algerian issues overstamped with "Tunisie". The franc was replaced in 1960 by the dinar at a rate of 1000 francs = 1 dinar, the dinar having been established as the unit of account in 1958.