Tunisia’s Foreign Currency Reserves Near $8.4 Billion, but Import Cover Remains Tight

Tunisia’s foreign currency reserves rose slightly this week, reaching nearly $8.5 billion, according to the latest daily indicators published by the Central Bank of Tunisia.

As of July 6, 2026, Tunisia’s net foreign currency assets stood at approximately $8.4 billion, enough to cover around 98 days of imports. This is based on an exchange rate of around 1 USD = 2.95 Tunisian dinars.

The figure marks a modest improvement in nominal reserve levels, but Tunisia’s import cover remains relatively narrow. At 98 days, the country is only slightly above the widely used international minimum benchmark of three months of imports, or roughly 90 days.

Compared with the wider Maghreb region, Tunisia remains below the regional average in terms of import cover.

Based on the latest available data, Morocco’s reserves cover around 4.6 months of imports, Algeria’s around 16.5 months, Mauritania’s around 6 months, and Libya’s much higher oil-backed reserves cover more than 30 months of imports.

On a simple Maghreb average basis, including Libya, regional reserves cover around 389 days of imports, or nearly 13 months.

Excluding Libya as a major outlier, the average is closer to 228 days, or around 7.6 months. Tunisia’s 98 days therefore places it above the minimum global safety threshold, but still well below the regional average.

The Central Bank also reported that the overall refinancing volume reached approximately $3.6 billion, while banknotes and coins in circulation stood at a record $9.9 billion as of July 3, 2026.

The data show that Tunisia continues to maintain a basic foreign currency buffer, but the country’s external position remains sensitive to import costs, debt repayments, tourism revenues, remittances, and access to external financing.