Euro value blows up black market in Algeria

date 2017/07/05 views 2813 comments 0

icon-writer By: Mohamed. A. / English version: M. A.

Euro exchange rate Wednesday exceeded all the records in Algeria’s black market by reaching 194 DZ. It is believed that this increase is due to summer seasons and a large number of Algerians go abroad to spend holidays.

Economy experts refuse to set a link between Euro and Dollar value increase in the black market and world economy indicators. They believe that the only factor which controls the black market is supply and demand. Yet, a large number of them said the increase of Euro value compared to US dollar was behind the high rate exchange of Euro in the black market.

People dealing with Euro in the Square black market in Algiers say the currency value increased due to high demand as Haj season approaches as well as summer season.

They believe that Euro value will keep increasing until Haj season as it will be relatively stable at that time.

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