the euro stable, the dollar rising on the black market

the euro stable, the dollar rising on the black market
the euro stable, the dollar rising on the black market

This Tuesday, May 7, 2024, the exchange rate of the euro against the Algerian dinar on the parallel market remains stable compared to the previous week. The dollar, on the other hand, recorded a slight increase against the national currency.

Subject to the principle of supply and demand, the general state of the country’s economy and the value of the dinar in official quotations, as well as speculation, the parallel foreign exchange market in Algeria constantly fluctuates.

The euro stable and the dollar rising against the dinar on the parallel currency market

After having exceeded the symbolic bar of 240 Algerian dinars at the start of the current year, the euro has stabilized around 241 DZD in recent weeks.

At the Port-Saïd square in Algiers, considered a reference market for parallel exchange in the country, 1 euro is exchanged this Tuesday, May 7 against 241 dinars, or 24,100 DZD for a €100 note.

The euro has practically remained at the same levels since the beginning of May. On the other hand, the US dollar, the second most traded currency on this market, shows a slight increase compared to the start of the current month.

On April 30, one dollar was exchanged for 225 Algerian dinars on the same market. This Tuesday, currency traders in Port-Saïd Square in Algiers are offering the greenback for 225.5 DZD, or 22,550 dinars for a 100 dollar bill.

Exchange rate of the euro and the dollar in the quotes of the Bank of Algeria

In the official quotations of the Bank of Algeria (BA), the euro recorded a considerable increase against the dinar, compared to last week. One euro is displayed at 144.53 Algerian dinars for purchase (143.90 DZD previously) and 144.60 DZD for sale (143.95 DZD last week).

The US dollar, for its part, shows a slight decline in the opening commercial quotations of the Algerian dinar. A week ago, it was displayed at 134.38 DZD for purchase and 134.40 DZD for sale.

In the official quotations of the Algerian Central Bank from May 6 to 8, 2024, one dollar is displayed at 134.28 DZD during the purchase and 134.30 DZD during the sale. For other currencies, 1 pound sterling is exchanged for 168.76 DZD for purchase and 168.78 DZD for sale.

The Canadian dollar is quoted on the BA exchange table at 98.15 DZD for purchase and 98.17 DZD for sale.

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