Dollar reaches 242.50 dinars on Algeria’s parallel market
By the AFREEQUE newsroom, based on Algérie 360
The US dollar has reached 242.50 dinars on Algeria’s parallel market, up from 241 dinars on Monday and around 238 in mid-October. The rise is attributed to stronger demand for US currency among some operators, while the euro fell to 276 dinars, reports Algérie 360.
The US dollar is trading at 242.50 dinars on Algeria’s parallel market, a high not seen for several months, according to Algérie 360. At Algiers’ Port-Saïd Square, money changers were still selling the greenback at 241 dinars on Monday and 240 dinars last Thursday.
Buyers now have to pay 24,250 dinars for $100. The rate had remained close to 238 dinars in mid-October before rising by 4.50 dinars in a few days. Several money changers in central Algiers attribute the increase to stronger demand, particularly from operators sourcing supplies outside the eurozone, reports Algérie 360.
The euro has meanwhile fallen to 276 dinars, from 277 dinars at the end of last week, or 27,600 dinars for €100. Since the summer, the European currency has alternated between periods of stability and slight corrections in a market where domestic demand weighs more heavily than international exchange-rate movements, according to Algérie 360.
The euro rate follows its stability at 27,600 dinars at Algiers’ square on 18 October, then its remaining at 277 dinars in reports on 16 October.
