The black currency market in Algeria is in all its forms. The prices of the euro and the dollar against the Algerian dinar move erratically, depending on the principle of supply and demand, but also depending on other factors, sometimes invisible, which weigh on transactions. .
After a historic peak at 262 dinars each on Monday December 9, the euro tumbled this Wednesday December 11 to settle at 257 dinars. In two days, he lost five dinars, which is significant, but his rate still remains high and out of reach for the majority of Algerians.
For the dollar, it followed the same downward trend. From 248 dinars per unit last Monday, it was exchanged at 246.5 Algerian dinars this Wednesday, December 11. This decline in no way predicts the evolution of the black currency market in Algeria. Prices can suddenly collapse or rise similarly.
The euro has already reached the symbolic mark of 260 dinars at the end of last September. While many predicted a continuation of its rise, the opposite happened, since the single European currency fell against the dinar, while remaining above the threshold of 250 dinars.
Currency black market: here are the prices of the euro and the dollar this Wednesday, December 11
If the fall in October was partly caused by the decision of the authorities to suspend the registration of vehicles less than 3 years old whose purchase is made via currencies purchased on the black market, the even relative tumble of the euro recorded this Wednesday, December 11 could be linked to the increase in the amount of the tourist allowance for Algerian travelers.
On Sunday, President Abdelmadjid Tebboune validated a significant increase in the tourist allowance for Algerians, which goes from the foreign currency equivalent of 15,000 dinars (or 100 euros at the current official exchange rate of the single European currency) to 750 euros for adults.
This measure, which comes into force in January 2025 and the terms of application of which have not yet been determined, will weigh on the black currency market. Until then, Algerians are forced to use black exchange to acquire the currencies they need to travel abroad. With the increase in the tourist allowance to 750 euros per year, the black currency market will lose a significant part of its clientele.
