According to the latest data from the Bank of Algeria, covering the period from June 27 to July 1, 2024, the differences between the values of currencies on the official and informal markets continue to widen. The euro, an international reference currency, is traded at 143.88 Algerian dinars for purchases and 143.95 Algerian dinars for sales on the official market. However, on the black market, the euro soars to 234.00 dinars for buying and 236.00 dinars for selling.
In addition to the European Union currency, the US dollar is showing some stability on the official market of the Bank of Algeria, with rates of 134.60 dinars for buying and 134.61 dinars for selling. On the other hand, on the parallel exchange market, money changers are offering rates reaching 217.00 dinars for buying and 220.00 dinars for selling.
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Bank of Algeria and the black market: where is the dinar compared to other currencies?
On the official market, the British pound sterling is quoted at 170.05 Algerian dinars for buying and 170.16 dinars for selling. While on the black market of Square Port Saïd in Algiers, the currency of the United Kingdom reached new heights, with rates of 262.00 dinars for purchase and 265.00 dinars for sale.
In addition, official market figures indicate that the Canadian dollar is trading at 98.32 Algerian dinars for purchase and at 98.36 Algerian dinars for sale. At the same time, informal exchange dealers are offering the Canadian currency at 156.00 Algerian dinars for purchase and at 158.00 Algerian dinars for sale.
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The discrepancies between the values of currencies on the official and informal markets in Algeria continue to raise concerns. Data from the Bank of Algeria and the rates applied by foreign exchange dealers for this Sunday, June 30, 2024, illustrate these divergences, thus highlighting the need for constant monitoring of the foreign exchange market in Algeria, especially during this holiday and travel period.
