Like other foreign currencies, the euro continues its rise on the informal market of Algiers Square. This Thursday, November 14, the European currency records a further increase. Indeed, the currency traders of this informal channel display a purchase price of the euro at 253 Algerian dinars, and offer it for sale for 256 Algerian dinars.
In parallel, the official market of the Bank of Algeria presents a very different rate, with a slight decline in the European currency. At the end of this week, the euro is trading at 142.16 Algerian dinars for purchases and 142.19 dinars for sales.
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These rate differences between official and informal markets reflect current economic fluctuations and strong demand on the parallel market, a situation which continues to arouse the interest of economic observers.
Currency exchange rates in Algeria: new rise in the pound sterling!
The pound sterling continues its progression on the Algerian black market, approaching the symbolic bar of 300 dinars. This Thursday, British currency trades at 295 Algerian dinars for purchase and 298 dinars for sale.
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In comparison, official quotations from the Bank of Algeria for the period from November 12 to 14 indicate a significantly lower rate: the pound sterling trades at 170.79 dinars for purchases and 170.84 dinars for sales.
Bank of Algeria and the black market: what about other currencies?
The American dollar continues its rise on the informal market in Algeria. This Thursday, it is trading at 235 dinars for purchase and 238 dinars for sale, a rate well above official quotations. Indeed, the Bank of Algeria displays the greenback at 133.41 dinars for purchase and 133.42 dinars for sale.
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As for the Canadian dollar, it is also reaching record highs on the parallel marketwith a value of 166 dinars for purchase and 168 dinars for sale. On the official market, the Canadian dollar stands at 95.58 dinars for purchases and 95.59 dinars for sales.
This weekend, the currency of the United Arab Emirates recorded a slight increase on the parallel foreign exchange market. The Emirati dirham is now trading at 63 Algerian dinars for purchase and 65 dinars for sale. A notable gap is thus widening with the official market, where the Bank of Algeria sets the dirham rate at 36.32 dinars, both for buying and selling.
