VOL. XL

No. 20

19-May-1997

TUNISIA

Tunisia Liberalizes Forex Market

The Tunisian Central Bank announced on 12 May two new moves aimed atliberalizing Tunisian forex dealing and integrating it into international financial markets. The firstallows domestic banks to exchange hard currencies with foreign financial institutions - with immediateeffect - and the second allows the banks to enter the forward forex market effective from 30 June1997. In a statement, the Central Bank said that local banks...