The average exchange rate of the Algerian dinar fell against most foreign and Arab currencies during the morning trading of banks on Tuesday.
Traders said: The average price of the US dollar against the Algerian dinar increased to 128.912 dinars.
Algerian Energy Minister Abdelmadjid Attar expected that his country’s revenues from fuels would drop to $ 23.5 billion by the end of this year, compared to $ 34 billion at the end of 2019.
The average price of the euro against the Algerian dinar was 152,540 dinars, while the pound sterling was 168,070 dinars.
Also, slightly, the exchange rate of most Arab currencies rose against the Algerian dinar in government banks, and the average price of the Emirati dirham was 35,1019 dinars, the Saudi riyal 34,3764 dinars, and the Kuwaiti dinar 421,737 dinars.
The average exchange rate of the Egyptian pound was 8.20774 dinars, the Tunisian dinar 47.1807 dinars, and the Moroccan dirham 14.0834 dinars.
The Algerian government is moving to nationalize the companies of businessmen of the regime of resigned President Abdelaziz Bouteflika, who have been involved in corruption cases and who have been sentenced to prison terms.
The Corona pandemic forced the Algerian government to cut the budget of the oil giant “Sonatrach” in half and postpone unhurried projects.
According to the latest outcome of the Algerian Ministry of Energy, the company incurred losses amounting to 10 billion dollars at the end of last September, in exchange for a sharp decrease in the number of its export business, which reached 41%.
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