The paper investigates the dynamic linkages between exchange rate (against US dollar) and the stock market (local currency) of Tunisia from January 2004 to April 2017. In particular. the paper tries to answer if there are any correlations between these variables and how they move in high volatile periods. By using a VEC model and applying the techniques of Granger Causality test. https://www.jmannino.com/mega-save-Stephen-Chetham-Dogs-Bag-Isalbi-big-deal/