After reaching 260 Algerian dinars at the end of last September, the value of the euro saw a sharp decline in October.
On October 5, one euro was exchanged at Square Port-Saïd for 250.50 Algerian dinars. But despite the drop, the value of the single European currency has not fallen below the symbolic bar of 250 Algerian dinars.
The euro quickly rose slightly, reaching 251 Algerian dinars on the parallel market on October 10. Today, the upward trend of the single European currency is confirmed.
Black market: after a sudden decline, the euro is back on the rise
A single euro is effectively exchanged this October 27, 2024 for 252 Algerian dinars per unit, or €100 for 25,200 Algerian dinars. Are these the beginnings of a new outbreak or are these simple fluctuations? Only time will tell as the evolution of this market is very difficult to predict.
The evolution of the black currency market in Algeria depends mainly on supply and demand. But other factors that the currency traders themselves do not control can influence prices.
The latest fall in the euro coincided with the freezing of issuance of registration documents for used vehicles less than three years old imported by Algerian individuals.
Currencies in Algeria: the dollar is gaining ground
For its part, the American dollar, which was exchanged against 229 Algerian dinars on October 10, gained a lot of ground against the Algerian dinar.
Indeed, a single greenback is exchanged this October 27 at Square Port-Saïd, a real hub of the black currency market in Algeria, for 234 Algerian dinars.
This is a new record ever recorded by the American currency. Even during the peak of the currency boom, at the end of last September, one American dollar was exchanged for 229 Algerian dinars, which was already a new record.
As for the Bank of Algeria, euro rates remain relatively stable. The single European currency is quoted at 144.35 Algerian dinars per unit for purchase and 144.38 Algerian dinars for sale.
For its part, the American dollar is exchanged at the counters of the Bank of Algeria against 133.34 Algerian dinars for purchase and against 133.35 Algerian dinars for sale.
