Despite the disparities between official values and those of the informal market, a certain stability seems to prevail this week on currency exchange rates in Algeria. Moreover, the official exchange rate data from the Bank of Algeria, for the period from May 8 to 10, 2024, bears witness to this!
At the official market of the Bank of Algeria, the euro maintains its course with a buying rate of 144.43 Algerian dinars and a selling rate of 144.46 Algerian dinars, while the American dollar displays almost identical values, with a buying rate of 134.51 Algerian dinars and a selling rate of 134.53 Algerian dinars.
At the same time, the Saudi Riyal continues to display relative stability as well, with buying rates at 35.86 Algerian dinars and selling rates at 35.87 Algerian dinars. In addition, official quotes from the Bank of Algeria indicate that the pound sterling is now bought at 167.72 Algerian dinars and sold at 167.81 Algerian dinars.
Currency exchange rates in Algeria: what do the black market figures say?
However, this apparent constancy of official values contrasts with the reality of the black market, particularly in Square Port Saïd in Algiers. On this informal market, exchange rates are soaring with the euro trading up to 234.00 Algerian dinars for purchases and 236.00 Algerian dinars for sales. Likewise, the US dollar reached record highs, with a buying rate of 217.00 Algerian dinars and a selling rate of 220.00 Algerian dinars.
As for the Saudi Riyal, it also undergoes significant fluctuations on the black market, reaching up to 57.00 Algerian dinars for purchase and 59.00 Algerian dinars for sale. For its part, the British currency maintains its position with a buying rate amounting to 262.00 Algerian dinars and a selling rate of around 265.00 Algerian dinars.
For an overview of the exchange rates of the main foreign currencies for this Thursday, May 9, 2024, see the summary table below. It will allow you to better understand the dynamics of the foreign exchange markets in Algeria, between official values and those of the informal market:
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