Hours after the authorities’ decision to adapt the partial lockdown in Algeria, which became from eleven o’clock at night until six in the morning, coupled with the planned re-opening of mosques, beaches and entertainment spaces, starting from next Saturday, August 15th, the price of the single European currency, witnessed a big jump of 500 dinars per a hundred euros in the various informal currency exchange markets, as the euro was sold on Sunday for 19,500 dinars per hundred euros, but a month ago, until this Saturday, it was no more than 19,000 dinars.
In their statements to “Echorouk”, hard currency traders admitted that their “stock exchange” is in line with what is happening in Algeria in terms of the repercussions of the Corona virus pandemic and also what is happening in the aviation world in terms of opening up airspace, although movement to and from Algeria is still closed.
However, the decision to re-open beaches and mosques and to re-adapt the hours of partial lockdown, gave hope for the revival of movement and the people’s need for hard currency grew so as to fulfill their needs, between trade, tourism, medical treatment, and even education and training.
A well-known currency dealer in the east of the country said that the market would have witnessed an unprecedented decline to 18,000 DZD or less for a hundred euros within this week due to the lack of demand.
The current recovery, due to the government’s decision, which made the demand since Sunday morning doubled in hard currency, and this automatically raised prices.
The price of one hundred euros ranged in the recent past around 20,000 dinars, but as for the near future, indicators suggest that it will record higher numbers than before notably during the coming autumn season, and it may approach 25,000 dinars per hundred euros, due to the lack of liquidity, because Algeria lost this summer the migrants who were supplying the market with millions of dollars, and due to the current lack of hard currency supply, the equation continues to shore up the currency rates.
On the official side, it should be noted that the euro climbed ahead once again over the national currency, the dinar, setting another record on the official foreign exchange market administered by the Central Bank of Algeria (BCA).
In fact, the common European currency further propelled itself ahead of the dinar, setting a new historical record. This is how, on Sunday, August 2, 2020, one (1) euro was equivalent, on the official market of the Bank of Algeria (BA), to precisely 152.25 units of our national currency, the dinar. The strong currency thus continues to rise in the scale of values.
It is then an “umpteenth” rise of the euro. This in the official quotations of the Bank of Algeria. The figures of the central banking institution show, almost every time, an unprecedented advantage to the European currency.
One unit of this strong currency continues to soar beyond the 150 dinar threshold. It is costing more and more to the Algerian customer.
Such a peak has never been reached before. It is a record rate. It actually comes in a series of successive performances. 1 € is now worth 152.25 DA at the Bank of Algeria. For the record, last Wednesday, the euro surpassed the 150 dinar mark. That’s with 150.006 dinars. Still in the official quotations of the Bank of Algeria.