Algeria parallel currency rates remain stable at Square Port Saïd

The parallel currency market in Algeria is experiencing a period of stability, with exchange rates for the euro and US dollar remaining below key psychological thresholds at the Square Port Saïd exchange hub in Algiers.

As of September 20, the euro has held steady at 277 dinars per unit, unchanged from the previous week. The US dollar has seen a slight increase, rising from 236.5 to 238 dinars over a seven-day period. Both currencies remain below the critical levels of 280 dinars for the euro and 240 dinars for the dollar.

Despite this consolidation, foreign currencies remain highly expensive relative to local purchasing power. The national minimum wage of 24,000 dinars per month converts to less than 100 euros at parallel market rates, placing significant economic pressure on households. Demand for foreign currency remains high due to needs such as travel, healthcare, and education abroad, even as the government intensifies crackdowns on irregular invoicing practices.