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ALGERIA: New historic decline of the dinar against the dollar

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The Algerian currency continues to fall. After a historic decline in December 2021, the dinar has again set a new record. According to the price of the main currencies on the interbank market published by the Bank of Algeria, the dollar is exchanged at 133.05 dinars per unit, against 132.22 dinars last week.

After ending 2020 with a 20% decrease against the euro and 11% against the dollar, the national currency began 2021, with further decreases. This Monday, January 18, 2021, the national currency recorded a new historical record downward against the green note.  Indeed, the dollar is exchanged at 133.05 dinars per unit, against 132.22 dinars last week. Its previous historical record is 132.69 dinars.

The decline of the dinar against the dollar on the interbank market comes in a difficult economic context. Algeria’s foreign exchange earnings come mainly from the export of hydrocarbons. But according to data released on Sunday, January 17, 2021, the country recorded a 40% decrease in revenues in 2020, or $20 billion.

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Despite the closure of borders and the suspension of international flights since March 2020, however, US dollar and euro prices have not declined on the black market. On the parallel market of Algiers, the euro remains stable at 209,5 dinars and the dollar is sold between 171,5 and 172 dinars.

       

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