The euro and other foreign currencies continue to climb to record levels on Algeria’s black market, with the euro trading at 254 dinars. In stark contrast, official exchange rates from the Bank of Algeria remain stable.
After a sharp decline last December, the euro has made a significant comeback in early 2025. On Algeria's informal market, foreign currencies are reaching unprecedented heights. On Tuesday, the euro was trading at 249 Algerian dinars to buy and 254 dinars to sell, driven by high demand for the European currency. This translates to 100 euros being valued at 24,900 dinars to buy and 25,400 dinars to sell.
The US dollar also shows significant growth on the black market, trading at 238 dinars to buy and 243 dinars to sell. These rates position 100 US dollars at 23,800 dinars for sale and 24,300 dinars for purchase, widening the gap with official rates.
Other currencies, such as the British pound and the Canadian dollar, are also experiencing upward trends. The pound is trading at 298 dinars to buy and 303 dinars to sell, while the Canadian dollar is valued at 163 dinars to buy and 168 dinars to sell.
Banque d'Algérie Exchange Rates:
In contrast, the Bank of Algeria’s official exchange rates reflect remarkable stability. From January 6 to 8, 2025, the euro is officially set at 140.28 dinars to buy and 140.32 dinars to sell. The US dollar remains steady at 135.80 dinars to buy and 135.81 dinars to sell. Similarly, the British pound is trading at 169.12 dinars to buy and 169.20 dinars to sell, while the Canadian dollar remains at 94.37 dinars to buy and 94.40 dinars to sell.
The ongoing discrepancy between Algeria’s black market and official exchange rates underscores the instability of the informal market, driven by increasing demand for foreign currencies. This widening gap continues to reflect broader economic challenges in the country.
Currency | Official (BUY) | Official (SELL) | Black Market (BUY) | Black Market (SELL) |
|---|---|---|---|---|
Euro (€) | 140.28 | 140.32 | 249.00 | 254.00 |
US Dollar ($) | 135.80 | 135.81 | 238.00 | 243.00 |
British Pound (£) | 169.12 | 169.20 | 298.00 | 303.00 |
Canadian Dollar ($C) | 94.37 | 94.40 | 163.00 | 168.00 |
UAE Dirham (AED) | 36.97 | 36.98 | 63.00 | 65.00 |