The fall of the euro against the Algerian dinar on the black currency market continued this Sunday, October 6.
Indeed, the 100 euro note is exchanged in sales by currency traders to individuals, between 24,500 and 24,900 DA. Concerning the purchase, currency traders buy 100 euros against 24,300 DA on average.
This rate marks a significant decline compared to the historic record reached on Wednesday on all parallel points of sale of foreign currencies. 100 euros were exchanged for 26,000 DA, or even more in certain localities of the country.
Questioned by us, a foreign exchange trader active on Facebook affirms that the freezing of the operation of registrations of imported second-hand cars less than three years old has plunged the black currency market into uncertainty. In this kind of situation, purchasing stagnates, which pulls the exchange rate down, he explained.
The continued uncertainty regarding the measure taken by the Ministry of the Interior and local authorities will further influence the black market over the coming days and weeks. In clearer terms, freezing or stopping imports of cars less than three years old will cause the euro to fall. Furthermore, any unblocking of the situation will increase the value of the euro on the black market.
