1 Sultani – Eyalet of Tunis

In 1688, the currency situation in the Eyalet of Tunis was characterized by significant instability and complexity, reflecting the province's precarious position within the Ottoman Empire and its deep integration into Mediterranean trade networks. The local economy operated on a bimetallic system, heavily reliant on both Ottoman silver akçe and Spanish silver reales (pieces of eight), the latter flowing in from trade with European merchants and Barbary Coast activities. However, the central Ottoman currency was often debased, leading to a chronic shortage of sound specie and frequent fluctuations in exchange rates between various gold, silver, and copper coins in circulation.

This monetary chaos was exacerbated by the autonomous power of the Muradid Beys, who, while nominally subordinate to the Porte, controlled the local mint (dar al-darb). They frequently engaged in inflationary practices, such as issuing heavily debased copper fals or lowering the silver content of coins to finance their rule, military ventures, and tributes to Istanbul. The result was a loss of public confidence in coinage, leading to merchants and traders carefully weighing coins for their intrinsic metal value rather than accepting them at face value.

Consequently, daily transactions were fraught with difficulty. The coexistence of Ottoman, European, and local imitative coins created a fragmented market where exchange brokers (sarrāf) played an essential role. The instability discouraged long-term investment and complicated revenue collection, embedding a structural weakness in the eyalet's economy. This turbulent monetary environment mirrored the broader political fragmentation of the era, preceding the more centralized reforms that would come with the Husainid dynasty in the following century.