Dinar Appreciates Versus Euro at Start of October

The Algerian Dinar began October with a notable appreciation against the Euro on the official exchange market, marking a favorable trend for the national currency. According to data from the Bank of Algeria, the Euro was valued at 151.06 Dinars for sale and 151.03 Dinars for purchase on Thursday, October 1st. This development follows a period of decline for the European currency against the Dinar, continuing a trend observed since the latter half of September.

The strengthening of the Dinar is evident in the measurable decrease of the Euro's value. Over approximately two weeks, the Euro's selling price against the Dinar fell by 2.47 Dinars, representing a decline of about 1.61 percent. Compared to September 30th, the official rate for the single European currency saw a further reduction of 0.73 Dinar, a drop of approximately 0.48 percent in a single day. This translates to a decline of approximately 247 Dinars for every 100 Euros exchanged at the official rate since September 18th. The Euro now remains below the 152 Dinar threshold on the official market, a level it had surpassed during the second half of September.

This positive movement in the official exchange rate also translates into tangible benefits, particularly for travelers utilizing the 750 Euro tourist allowance. The cost to acquire this amount was approximately 113,295 Dinars on October 1st, a saving of around 1,853 Dinars compared to the cost on September 18th, which stood at about 115,148 Dinars. It is noted that the parallel market presents a different exchange situation, with 100 Euros trading at 27,700 Dinars for sale and 27,500 Dinars for purchase on the same date.