Parallel market: 100 euros rises to 27,700 dinars
By the AFREEQUE newsroom, based on Maghreb Emergent
Illustrative image · Jakub Zerdzicki · Pexels · Licence PexelsThe rate for 100 euros reached 27,700 dinars for sale on Algeria’s parallel market, compared with 27,600 dinars on Thursday and 27,550 dinars five days earlier. A currency dealer attributed the increase to stronger demand for euros and reduced supply, according to Maghreb Emergent.
On the Algerian parallel market, currency dealers were selling 100 euros for 27,700 dinars on Saturday 7 November, compared with 27,600 dinars on Thursday and 27,550 dinars five days earlier. For purchases, 100 euros were trading at an average of around 27,450 dinars, according to Maghreb Emergent.
The rise in the euro was attributed by a currency dealer to stronger demand and a reduction in the quantities offered for sale. The dollar is moving in the opposite direction and is currently falling on Algeria’s parallel market, according to Maghreb Emergent.
November usually reduces the supply of euro banknotes brought by the Algerian diaspora returning from Europe, particularly France. After the All Saints’ school holidays, travel between France and Algeria generally declines, reducing one of the sources of foreign-currency supply on the informal market, according to Maghreb Emergent.
The euro rate had been presented as stable at 27,600 dinars on 18 October on Algeria’s parallel market. Two days before the new quotation, the dollar had reached 246 dinars on this market, on 5 November, according to previous publications by Maghreb Emergent.
