After exceeding 260 Algerian dinars in certain regions of the country, including Algiers, at the end of September, the value of the euro had suddenly fallen to reach 250 dinars at the beginning of October.
This sudden drop is mainly explained by the freezing of the issuance of registration cards for used cars less than 3 years old, imported from abroad and paid for by individuals with foreign currency purchased on the black market.
Currency black market: the euro increasingly expensive
But the decline did not continue, and the single European currency remained above the symbolic bar of 250 dinars, rising little by little during the month of last October.
After a short lull, the value of the single European currency quickly rose again to be exchanged for 252 Algerian dinars on October 27 on the black market. Since then the rise has continued
This Tuesday, November 5, one euro is exchanged at Square Port-Saïd, a real hub of the parallel currency market in Algeria, for 254 Algerian dinars each, or 25,400 Algerian dinars for a €100 note. A new outbreak is on the horizon.
Currencies: new record set by the US dollar
For its part, the American dollar has grown wings in recent weeks. The rise in the value of the American currency on the black currency market in Algeria is accelerating and setting new records.
Indeed, while a single American dollar was trading at 225.50 at the end of last September, its value rose to 234 Algerian dinars at the end of October. A first record.
This Tuesday, the greenback set a new record by exchanging for 235.50 per unit, or 23,550 Algerian dinars for a 100 dollar bill, a level never reached before.
On the side of the Bank of Algeria, the euro and the dollar remain fairly stable in interbank quotes, which only further widens the gap between the parallel market and the official currency market in Algeria.
Indeed, one euro is quoted this Tuesday, November 5 at the Bank of Algeria at 144.82 Algerian dinars for purchase and 144.86 Algerian dinars for sale. The American dollar for its part is officially trading at 133.07 Algerian dinars for purchase and 133.08 dinars for sale.
