Emerging Markets Rates and Currencies Handbook

Rollover: Yes, through supporting documents (new instructions). Unwinding: Not possible. Early Maturity: Yes, with supporting documents. Local regulation allows FX Options, but markets are really illiquid. For the onshore market, Clients can only buy a FCY Tunisian Dinar option. Selling options is not allowed in onshore market. Documentation Requirements A General Investor is required to provide the following information/documentation on a pre-execution basis: 1. Confirmation of hedge purpose 2. Hedging (Forwards) transactions must be backed by commercial or financial transactions (e.g. invoice or purchase order, contract etc.); Hedging extension via justified reason/supporting documentations showing hedging status. Unwinding: supporting documents are required. Trade Flows 1. Trade flows for Import or export of goods: FX is allowed after LC import/export, documentary collection utilization. 2. Import or Export of services (i.e Currency Control flows); For resident/onshore entities; FX transaction is permitted per documentation checking in accordance with Central Bank (FX Regulation requirements) ; FX forwards, must be backed by commercial or financial transactions (e.g. invoice or purchase order, contract etc.) Capital Flow and FDI No restriction on size. Forward/Option contract may be booked up to a tenor of 12 M in onshore (resident entities) and 24M offshore (non resident entities). Citibank N.A. Tunis Branch Citibank N.A, Tunis 55, Avenue Jugurtha Tunis, 1002 Tunisia FX Sales Contact: +216 71.113.342