Bank and black currency exchange rates this May 26!

Bank and black currency exchange rates this May 26!
Bank and black currency exchange rates this May 26!

The gap between the official exchange rates of the Bank of Algeria and the rates practiced on the informal market continues to widen, particularly with the recent rise in currencies on the informal stock exchange. However, the quotations from the Bank of Algeria covering the period from May 23 to 27, 2024 highlight the relative stability of the main foreign currencies.

According to the latest data from the Bank of Algeria, the euro remains at a buying rate of 145.57 Algerian dinars and a selling rate of 145.62 Algerian dinars. Likewise, the US dollar is trading at a buying rate of 134.49 Algerian dinars and a selling rate of 134.51 Algerian dinars, indicating relative stability in its value.

Besides these two currencies, the Bank of Algeria also provides information on other foreign currencies such as the Canadian dollar and the pound sterling. The Canadian currency is bought at 98.28 Algerian dinars and sold at 98.32 Algerian dinars, while the British currency stands at 171.20 Algerian dinars for purchase and 171.26 Algerian dinars for sale.

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Currencies in Algeria: What about informal market exchange rates?

On the other hand, on the black exchange market, currencies seem to regain a certain stability after a period of volatility. Foreign exchange dealers always offer high rates compared to official rates. Thus, the euro trades at 239.00 Algerian dinars for purchase and 241.00 Algerian dinars for sale, while the American dollar reaches up to 221.00 Algerian dinars for purchase and 223.00 Algerian dinars for sale.

Beyond the euro and the US dollar, other foreign currencies are the subject of transactions on the informal market. For example, the Canadian dollar is acquired at a buying rate of 159.00 Algerian dinars and sold at a rate of 161.00 Algerian dinars. As for the pound sterling, it is trading at a buying rate of 276.00 Algerian dinars and a selling rate of 278.00 Algerian dinars.

These data highlight the persistence of the gap between official exchange rates and those practiced on the informal market in Algeria. Despite the relative stability of the main currencies, the price differences between the two markets remain significant! The table below gives you an overview of the exchange rates for this Sunday, May 26, 2024:

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