The black currency market in Algeria experienced significant development this Monday, November 25. The euro recorded a sharp decline against the dinar and the dollar was stagnating, stopping its continuous rise in recent weeks.
Uncertainty still reigns on the parallel foreign exchange market in Algeria. The announcement of the capping of the annual amount in foreign currency authorized for travelers leaving the country seems to have dampened the situation.
A regulation signed by the governor of the Bank of Algeria, published in the official journal, sets the amount authorized for residents leaving the country at 7,500 euros per year, instead of 7,500 euros for each trip, as was the case before.
The euro falls against the dinar this Monday, November 25 on the black currency market
The new measure came into force on Thursday November 21. And since then, doubt has hovered over the black exchange market. “Is this a prelude to the announcement of an imminent and significant increase in tourist allocation? “, some ask.
If this is the case, it will undoubtedly be the beginning of a decline in the value of the main currencies in circulation on the black exchange market, especially since among the main customers of this market are travelers abroad. .
At the beginning of October, the President of the Republic, Abdelmadjid Tebboune, ordered during the Council of Ministers a substantial increase in the amount of the tourist allowance, granted once a year for the benefit of citizens traveling abroad.
In this context, the European currency recorded a sharp decline against the dinar on the black market, before returning to an upward path. Saturday November 23, one euro was offered by currency traders against 259 dinars.
As it approached its historic record of more than 260 dinars, recorded last September, the euro fell this Monday, November 25, by around 6 dinars in barely two days.
The dollar is stalling, ending its continuous rise
From now on, the unit of the common single European currency is offered by currency traders against 253 dinars, or 25,300 dinars for the reference note of 100 euros, we noted this Monday morning at the Port-Saïd square in Algiers.
The gradual and continuous rise of the US dollar against the Algerian dinar has also stopped. After reaching 24,400 dinars last Saturday, the 100 dollar bill is trading this Saturday at the same level on the Algiers Square market.
In the banking circuit, the situation has not seen any significant change compared to last Saturday. In the official quotes of this Monday, November 25, set by the Bank of Algeria, the euro is displayed at 140.19 dinars during the purchase and at 140.24 dinars during the sale.
The American dollar is displayed, for its part, at 133.86 dinars for purchase and 133.88 dinars for sale, we noted on the exchange table published by the Bank of Algeria. The US currency has also not seen any major changes.
