The Algerian dinar euro black market trend showed a slight improvement this week, with the local currency gaining modest ground against the euro and the US dollar as trading resumed after Eid al-Fitr.
On Monday, the euro traded at 277.5 Algerian dinars on the parallel market, down from 278 dinars recorded on Thursday, March 19. This means that 100 euros now cost approximately 27,750 dinars, reflecting a marginal strengthening of the local currency.
Despite this small decline, the euro continues to hover near historically high levels. The European currency remains close to the symbolic 280-dinar threshold, highlighting persistent pressure on the dinar in the informal exchange market.
The US dollar followed a similar trajectory over the same period. It slipped slightly from 233.5 dinars per unit on March 19 to 233 dinars on Monday, March 23. While the movement remains limited, it reflects a broader trend of minor corrections following recent peaks.
The factors influencing these fluctuations on the black market remain difficult to pinpoint. Analysts often point to a mix of seasonal demand, travel-related currency needs, and broader geopolitical developments. In particular, the ongoing tensions in Iran and their impact on travel to Gulf countries are believed to be influencing demand for foreign currencies.
Over a longer period, the euro has posted notable gains. Compared to March 2025, when it traded at around 255 dinars at the Port-Saïd square in Algiers, the single currency has increased by roughly 9%. However, this upward trend has not been linear.
In late November, euro exchange rates surged past 290 dinars before experiencing a sharp correction. The current levels, while lower than those peaks, remain significantly elevated compared to historical averages.
In contrast, the US dollar has recorded a decline over the past year. At the end of March 2025, it stood at approximately 241 dinars, compared to around 233.5 dinars today. This represents a drop of about 3.3%, making it less attractive for those who had invested in the currency.
This divergence has influenced behavior among Algerian savers. Many individuals continue to convert their dinar holdings into foreign currencies, particularly euros, as a hedge against future volatility. The strategy often involves holding foreign currency and reselling it when exchange rates rise again.
Meanwhile, the official exchange market presents a different picture. Rates published by the Bank of Algeria show relative stability compared to the fluctuations observed in the parallel market.
On Monday, the euro was officially priced at 152.79 dinars, up slightly from 151.58 dinars last Friday. The US dollar remained almost unchanged, standing at 132.44 dinars compared to 132.33 dinars previously.
The persistent gap between official and black market rates continues to reflect structural imbalances in currency supply and demand. As Algeria navigates economic pressures and external uncertainties, currency trends on both markets are likely to remain closely watched in the coming months.
Sami B. is the founder and editor of Algeria News Gate, an independent English-language platform covering Algeria’s political, economic, and business developments. Based in Europe, he reports on official announcements, economic trends, and international relations involving Algeria.