The US dollar slipped below the 240 DZD mark on Algeria’s parallel market on April 19, trading at 239 dinars in Algiers, while the euro held steady above 280 dinars, according to local exchange observations. The slight drop comes after recent upward momentum that had pushed the greenback close to the 240-dinar threshold.
At Square Port-Saïd, a key hub for informal currency exchange in the capital, the euro was quoted at 280.5 dinars on Sunday, unchanged compared to the same period last week. The dollar, meanwhile, declined by half a dinar from April 12 levels, signaling a modest correction after recent gains.
Despite this pause, both currencies remain at historically elevated levels on the parallel market. Local media reported that persistent demand for foreign currency continues to outweigh available supply, maintaining upward pressure on exchange rates. The imbalance is partly attributed to increasing difficulties in sourcing foreign currency from abroad, which traditionally feeds the informal market.
Authorities have introduced measures aimed at tightening control over the black market and stabilizing the dinar. However, these efforts have yet to significantly impact pricing trends, as demand from travelers, importers, and savers remains strong.
On the official market, currency movements were more contained. The euro recorded a slight increase, rising from 154.56 dinars on April 13 to 155.63 dinars by April 17. In contrast, the US dollar edged down marginally from 132.19 dinars to 132.08 dinars over the same period, according to official figures.
Looking ahead, the gap between official and parallel market rates remains a key indicator of structural pressures within Algeria’s currency system, with no immediate signs of convergence as demand continues to outpace supply.
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.