Algeria: The Price Of Euro Rising Again Due To Hajj Pilgrimage And Summer Holidays

The exchange rate of the euro rose against the Algerian dinar in the informal market across the provinces of the east of Algeria, where the price of selling 1 euro on Wednesday, reached in some provinces the amount of 200 dinars, while exceeding this price in other areas, as the hard currency was rather scarce, even reaching the threshold of 210 dinars for one euro.
Some black market traders attributed the reason for the hike of the euro today again to the increasing demand for exchange by thousands of Algerians wishing to leave the national territory towards other countries, especially pilgrims heading to the holy places of Islam to perform the Hajj ritual, as well as other citizens who booked in hotels and sea resorts in some other countries, to spend the days of the summer holidays, such as Turkey and Tunisia, and this raised the demand for hard currency in the black market, with a higher price compared to the last few days, where the exchange rate of the euro was relatively stable reaching 180 DA.
The absence of approved currency exchange offices in Algeria and the reduction of the annual travel grant in banking agencies, which are set at no more than 105 euros, for 15,420 dinars, directly affected the decline in the value of the Algerian dinar, which is very weak compared to other foreign currencies.
This new development occurs against the backdrop of the precautions and security measures taken at the level of ports, airports and land transit centers, to stop the process of foreign currency depletion and illegal transfer of money by some money laundering and smuggling gangs abroad.
Some currency traders in the informal market have said that the fall in the euro price in the last few days was due to the drop in demand for exchange, which led to a recession in their activity and make them offer less than it is now, and it is rising again with the increasing demand for exchange in the black market by the Hajjis or pilgrims and vacationers travelling abroad, and even some outpatient patients heading for treatment or surgery at private hospitals in Tunisia, Turkey or even China.
The Algerian-Tunisian border is witnessing a large movement of travelers departing from the Algerian territory towards Tunisia to spend days of summer holidays in tourist vehicles.
The rate of departures in recent days, especially after the final of the African Nations Cup between reached 2,500 and 3,000 people per day across the four border crossing centers in the eastern province of Tébessa.
Almost all of them came from Tunisian territory to the Algerian territory, most of them being Tunisians, who used to shop in eastern Algerian cities, especially Tebessa, Ain Mlila, Tadjenent and even Constantine as well as El Eulma in the province of Setif.
The purchased Algerian goods are later sold in neighboring Tunisia. The Tunisian currency has seen a rebound in its prices on the border areas and the exchange rate reached yesterday in the border province of Tébessa 61.5 Algerian dinars (DA) for 1 Tunisian Dinar, while the price during the past days was set at between 58 DA and 60 DA.