Euro Currency Exchange Reaches Less Than DZD 200 In Black Market For The First Time Since 4 Months

Exchange price of the euro currency in the black market reached, Monday, for the first time in 4 months less than DZD 200, reaching specifically DZD 197, in the first precedent since the beginning of the talk about the printing of money, while the European hard currency remained fixed at the Bank of Algeria and adjusted at DZD 137.50 in the midst of disturbances and blurred vision on the import market and foreign trade transactions, with the possibility of preventing 1000 products from being imported officially, and the fact that a number of non-official importers resorted to the parallel hard currency market due to the availability of hard currency.

Financial and banking expert Dr. Kamal Si Mohamed, confirmed in a statement to Echorouk that the exchange rate of the euro will be relatively stable for 15 days and continues the same trend, ie DZD 197 per European unit until the issuance of the executive decree that is specified for the nature and origin of 1000 products that are prohibited from import starting from this year.

“The uncertainty about the import market is behind the reluctance of a large number of economic dealers to request additional quantities of the euro, which is behind the relatively stable price of the market and other parallel markets, where the euro is sold at less than DZD 200”.

Exchange price of foreign currency from the euro and dollar rose on the black market and even in the Bank of Algeria for four months and even before it, after the beginning of talk about printing money and reviewing the law of the loan and cash that reached a record high and exceeded DZD 206, which the highest price since independence.

Head of the Export Consultancy Association and expert in international trade warned, on Tuesday, of the risks that are imposed by the trade ministry on banning the import of 900 products”.

It is expected that this decision will soon be approved, according to a regulatory text, as the Export Consultations Association considered that some non-locally produced goods, which the Algerians are used to consume over the past years, will be behind the strong return of the suitcase trade and a new rise in currency prices will occur despite the fact that the prices of hard currency are currently stabilizing in the parallel hard currency market, as they are likely to return to the increase after the list of prohibited substances from importation, ie within 15 days at the latest.