An abnormal and unusual movement has been observed on the black currency market in recent days. Participants in this illegal market, let us remember, are seeing an unexplained increase in demand for the euro, but also for other currencies.
The upward trend began at the beginning of September before accelerating from the 24th of the same month. A situation which immediately had repercussions on the parallel exchange rate of the euro which went from one euro for 240.5 DA at the beginning of the month to one euro against, 255 DA this Monday, September 30.
Demand for the euro is increasing day by day, says a currency trader. According to him, all quantities purchased by small currency traders in towns and villages are sold the same day. Demand far exceeds supply. Some currency traders no longer sell the euro to individuals. They have large orders that they cannot fulfill.
At Square d’Algiers, the country’s best-known market in this area, currency traders no longer sell euros, they just buy them, indicates the electronic journal TSA. Foreign exchange traders have large orders to mobilize quickly.
Information that we were able to verify in Bejaia. A wilaya known to be one of the main suppliers of currency to the Algerian market.
Why this explosion in demand?
Asked about the reasons for this dizzying increase in demand for the euro on the black market, our contact indicates that during the period from 1is September until December 15, the euro increases. However. He specifies that this year’s increase exceeded all forecasts.
It is unique in the history of parallel exchange which emerged in the early 1980s. ‘Usually, it is holders of study visas, travelers for Umrah and candidates for illegal immigration who boost the demand for the euro and the dollar”, he notes before adding: “the importation of vehicles less than 3 years old has certainly shaken the market, but other more important demands are to be determined ”.
