The value of the Algerian dinar continues to decline sharply against major foreign currencies in official banking, as a result of the economic recession caused by the Corona pandemic and the decline in oil prices and gas exports.
Since 2014, the Algerian economy has been experiencing a suffocating economic crisis as a result of the decline in oil prices in the global markets, as oil and gas are the main resource for the state’s treasury of hard currency, at a rate of more than 97%.
The Algerian government acknowledged that the country’s economy is going through “the worst crisis in the country’s history” this year, and the dinar was one of the indicators of that economic decline, especially after the previous government included a new floating of the local currency in the General Budget Law for 2020.
The price of the euro and sterling
The price of the euro in Algeria was about 152.5174 dinars, while the pound sterling was about 168.2147 dinars.
Arab currency rates in Algeria
As for Arab currencies in Algeria, the price of the Emirati dirham was recorded about 35.0985 dinars, and the Saudi riyal scored about 34.3639 dinars.
The price of the Egyptian pound in Algeria was about 8.2091 dinars, and the Sudanese pound scored about 2.3322 dinars, while the Kuwaiti dinar scored about 421.1725 dinars.
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