The black currency market in Algeria recorded a record increase in the American dollar on Wednesday, November 20. Indeed, the informal market continues to experience significant fluctuations, particularly for the dollar which is recording historic records. Meanwhile, the euro remains relatively stable, confirming an imbalance between supply and demand on this informal “platform”.
The US dollar is now trading at 244 dinars for sale and 240 dinars for purchase on the black market in Algeria. According to a currency trader active on social networks interviewed by the Maghreb Emergent site, this situation is mainly explained by the law of supply and demand. “The demand for the dollar is significantly higher than the supply, which favors its surge,” he said. The British pound follows a similar trend, reaching 305 dinars for sale and 299 dinars for purchase, also a record. These increases reflect tense market dynamics, where demand greatly exceeds availability.
In comparison, on the official market, the dollar trades at 133.35 dinars, according to the latest quotations from the Bank of Algeria. This disparity highlights the dominant role of the black market in the exchange of foreign currencies.
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Relative stability for the euro on the black market
The single European currency, although popular, has remained stable for several days on the black market, with a rate of 255.5 dinars for purchase and 257.5 dinars for sale. Questioned about this situation, the same currency trader states that “the euro does not experience significant variations, because its demand, although high, is currently less unbalanced than that of the dollar.”
Forecasts for the coming weeks suggest a continued rise in currencies, experts say. “All indicators show that new historical records are to be expected on the parallel market,” he indicates. This phenomenon, fueled by limited supply and growing demand, is set to last.
