The Tunisian monetary market rate, also known as the TMM, has experienced significant fluctuations since 2021. According to data from the Central Bank of Tunisia, the rate started at 6.15 in January 2021 and remained relatively stable throughout the year, reaching 6.29 in July and 6.25 by December. This stability was short-lived, as the rate began to rise in 2022, reaching 6.6 in May and breaking the 7% threshold in June with a rate of 7.01.
The upward trend continued into 2023, with the TMM rate reaching 8.02 in February and peaking at 8.05 in March. This marked the highest point in the series, after which the rate stabilized around 8% for the remainder of 2023 and throughout 2024, with a narrow range of 7.96 to 7.99. This period of stability was a notable departure from the rapid growth seen in the previous years.
However, 2025 marked a turning point, as the TMM rate began to decline. After starting the year at 7.99, the rate dropped to 7.91 in March and further decreased to 7.50 in April. This downward trend continued, with the rate stabilizing at 7.49 from September to December 2025. The decline continued into 2026, albeit at a slower pace, with the rate dropping from 7.08 in January to 6.99 in February.
By July 2026, the TMM rate had stabilized at 6.99, and by August and September, it had slightly increased to 7.00. This represents a significant decrease of 1.05 points from the peak in March 2023 to September 2026. According to the Central Bank of Tunisia, this sequence of events reflects a clear pattern of rapid growth, a prolonged plateau, a decline, and eventual stabilization.
Despite the clear trends in the data, it is challenging to attribute these movements to specific economic causes without further analysis. The Central Bank of Tunisia's data provides valuable insights into the evolution of the TMM rate, but additional factors, such as economic indicators and policy decisions, would need to be considered to fully understand the underlying drivers.
Key statistics from the Central Bank of Tunisia include a starting rate of 6.15000 in January 2021, a peak of 8.05000 in March 2023, and a range of 7.96000-7.99000 in 2024. The rate stabilized at 7.49000 from September to December 2025 and 7.00000 in September 2026. These numbers provide a clear picture of the TMM rate's trajectory over the past few years.
The stabilization of the TMM rate at 7% is a significant development for Tunisia's economy. As the country continues to navigate its economic challenges, the monetary market rate will likely remain an important indicator of economic stability. The Central Bank of Tunisia will likely continue to monitor the rate closely, making adjustments as necessary to maintain economic stability and promote growth.
Key points
- The TMM rate has stabilized at 7% after a peak of 8.05 in March 2023.
- The rate experienced a significant decline of 1.05 points from its peak to September 2026.
- The Central Bank of Tunisia's data shows a clear pattern of growth, plateau, decline, and stabilization in the TMM rate since 2021.
