Emerging Markets Rates and Currencies Handbook

Tunisia (TND - Tunisian Dinar) Citi in Tunisia Citi has been operating in Tunisia since 1978 as an offshore bank. We became a full-service bank offering corporate and investment banking services in 1989 when we obtained an onshore license. We are the primary foreign bank in the country. As the first to execute both on and offshore activities, we are also the most active foreign bank in Tunisia. We are proud to offer a wide array of cash management products and services (payables, receivables and liquidity solutions), serving the needs of local clients. Our goal is to structure the product mix to meet our clients’ needs for streamlined operations, improved financial controls and optimal use of funds. More than 300 private and public corporate clients operate in the following different economic sectors: Corporate Clients: We are proud to provide tailored and unique financial solutions to the majority of the top-tier corporations operating in Tunisia. Public Sector: Citi maintains a successful relationship with the public sector, and is recognized as a partner and advisor on a number of complex finance structures. Private Corporate Clients: Citi has strong relationships with the most important private Tunisian companies, for example with industrial companies, banks, leasing companies and insurance providers. Citi also provides products and services to embassies and non- governmental organizations (NGO’s). Market Overview Tunisian Dinar is not freely convertible, managed through a floating exchange rate regime. Tunisian Dinar is pegged to a basket of currencies, reflecting their importance in Tunisia external trade (EUR 60% and USD 40%). The basket is adjusted with the fluctuations of these currencies, taking into consideration inflation 154