The exchange rate of the Algerian dinar fluctuated against the dollar, the euro and Arab currencies, compared to Thursday’s closures during the official holiday for state banks.
The average exchange rate of the Algerian dinar fluctuated against most foreign and Arab currencies due to the closures yesterday, despite the official holiday of Algerian banks, Friday and Saturday.
The exchange rate of the US dollar against the Algerian dinar retreated on Friday morning, achieving 129.006 dinars.
The exchange rate of the Algerian dinar rose against the euro, and the average price of the single European currency “euro” against the dinar was 150.547 dinars, and the pound sterling was 166.535 dinars.
In contrast to the dollar and the euro, the average exchange rate of most Arab currencies rose against the dinar compared to yesterday’s close.
The exchange rate of the UAE dirham rose to about 35.1275 dinars, the Saudi riyal 34,4015 dinars, and the Kuwaiti dinar 421,636 dinars.
North African Coins
Likewise, the average exchange rate of the Algerian dinar against the currencies of North African countries decreased compared to Thursday’s closings, and the average exchange rate of the Egyptian pound was 8,21535 dinars, the Tunisian dinar 46.7938 dinars, and the Moroccan dirham 13.9894 dinars.
The Algerian presidency is counting on passing a draft constitutional amendment during the long-running referendum that took place on Sunday, and the Algerian President Abdelmadjid Tebboune acknowledged that obtaining an absolute majority allows his government to initiate radical economic reforms, focusing primarily on fighting corruption, after its scandals exploded since last year, and pushed investors. Foreigners to hesitate before entering the Algerian market.
The Algerian government began to search for alternative energy sources for hydrocarbons, which monopolize about 97% of the country’s exports, by resorting to mining industries to extract minerals, including phosphates, gold, marble, copper and uranium.