here are the 5 most expensive currencies

here are the 5 most expensive currencies
here are the 5 most expensive currencies

The foreign exchange market in Algeria always evolves in a context of duality between the official rate regulated by the Bank of Algeria and the informal one, governed mainly by supply and demand, as well as speculation.

Beyond this significant gap between the two markets, the level of the Algerian dinar remains low compared to several other currencies and the main international currencies.

In the official quotations of the dinar, the prices of the main currencies are set according to the situation of the national economy, but also regular adjustments made in relation to fluctuations of the dollar and the euro on the international market. The euro and the dollar are the two main currencies used by Algeria in its international trade.

Here are the five most expensive currencies compared to the Algerian dinar at the official rate

  1. The Kuwaiti dinar. The currency that displays the highest value against the Algerian dinar in the official quotations of the Bank of Algeria (BA) is the Kuwaiti dinar, which is also the strongest currency in the world.

In the BA exchange table showing the opening quotations of the Algerian dinar on May 27, 1 Kuwaiti dinar is displayed at a rate of 437.86 Algerian dinars at the selling price.

  1. The pound. The second most expensive currency compared to the Algerian dinar in official quotes is the British currency. The unit of this currency is in fact displayed against 171.25 Algerian dinars.
  1. The Swiss Franc. It is listed by the Bank of Algeria at 146.86 Algerian dinars for sale.
  1. The Euro. The single European currency only comes in fourth place with a rate of 145.83 Algerian dinars.
  1. The American dollar. In last position of the five most expensive currencies compared to the Algerian dinar, we find the greenback, displayed in the quotes of the Bank of Algeria at 134.38 dinars.

Exchange rates of these currencies on the black market

On the parallel foreign exchange market in Algeria, governed by the principle of supply and demand and the speculative practices of the main proponents, the most traded currencies are the euro and the American dollar.

At the start of the week, the European currency is exchanged at Square Port-Saïd, the main parallel exchange place in Algeria, against 242 Algerian dinars on average.

The American dollar, for its part, was sold by traders on the parallel market against 224.50 dinars at the start of the current week.

The pound sterling is exchanged on the black currency market for 278 dinars for sale.

The Swiss franc, still at the same market level, is exchanged for 240 dinars.

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