What is the best currency to take to Tunisia to exchange into Dinars?

Question

Some people have recommended US dollars, some GBP and some Euros.

Answer 1

First off, here is some conversion for you:
1TDN = £0.39, £1=2.579TDN
1TDN = €0.57, €1=1.757TDN
1TDN = $0.78, $1=1.288TDN
http://finance.yahoo.com/currency
(Currency rates as of 12:24 GMT on 25 April 2007)

The way the money system works is this:

1 Tunisian Dinar (TDN) = 1000 millimes.
Paper money is in denominations of 30, 20, 10 and 5.
Coins are in denominations of 5 &1TDN, and 500, 100, 50, 20, 10 and 5 millimes.

English pounds, US Dollars, and Euros are all widely accepted at banks, hotels, and the change counter at the airports. There really is not one that is better than the other.

Just a quick note: Tunisia is one of the few places in the world where you will get a better exchange rate at most hotels than you will at a bank. Keep that in mind when you are changing your money.

Tunisian currency is not a fully convertible currency as of yet, so therefore it can only be purchased inside of Tunisia.

Travelers’ checks and credit cards are accepted at some establishments in Tunisia, mainly in urban or tourist areas. The Tunisian dinar is not yet a fully convertible currency and Tunisian law prohibits the export or import of Tunisian bank notes or coins. Tunisian law permits the export of foreign currency that was declared when entering Tunisia. Tourists are expected to make foreign exchange transactions at authorized banks or dealers and to retain receipts for dinars obtained. Under foreign currency regulations, a tourist can reconvert to foreign currency 30 percent of what has been exchanged into dinars, up to a maximum of 100 dollars. Declaring foreign currency on entering Tunisia and obtaining a receipt for dinars purchased thereafter will facilitate reconverting dinars to your original currency. Keep all receipts of monetary transactions for presentation when leaving the country.

Now that the government part is over, there are cash points (ATMs) all over Tunisia, mainly in touristicy areas, and at banks. I personally wouldn't bring travelers checkes as it will take a long time for them to process it when you check out because not many people use them. Really the only place that they are valuable at is a bank.

And because Tunisia is still a developing country, most places aren't set up to accept credit cards or debit cards. You'll find that only you're major stores, such as Carefour (in Tunis), and Monoprix, and Magasin General, plus a few major restauraunts are equipped to handle them. Most major hotels can handle them as well.

Or bring a credit/debit card and use it at the ATM's when you need money. There is a fee for using the ATM's though, and that varies from bank to bank. Mostly the fee is between 1,500 dinars and 2 dinars. Remember though, you also get charged a fee from your bank for having to convert your normal currency into local currency. You will have to check with your bank/credit card provider to find out how much that fee would be.

My best suggestion to you is to bring the amount of money you want to have and change it little by little when you are in Tunisia. Which ever way you go, keep only the necessary cash on you, and the rest in your hotel room.

If I can be of any more help, feel free to contact me.