the Algerian dinar is weakening relative to the euro on the black currency market. As the summer vacation season nears, the euro is approaching the threshold of 260 Algerian dinars.

On Saturday, May 24, at Square Port Said in ALGIERS, one euro was selling for 259.5 Algerian dinars, compared to 259 dinars on Wednesday, May 21. The dollar, which is less in demand than the euro, remained stable, exchanging at 234.5 dinars, the same rate as the previous Wednesday.

In late April, the euro nearly reached its historic high of 262 dinars. Even though it subsequently decreased against the dinar, the decline was minimal and temporary, staying above 255 dinars per unit.

Currency Rates in Algeria: Latest Euro and Dollar Values

The recent increase in the euro’s value is hard to pinpoint. It may be related to the announced regularization of small importers or “Trabendistes” who are significant participants in the black currency market. These traders purchase euros and dollars on the black market to import goods, which they then sell at inflated prices in Algeria.

Another factor influencing the black currency market is the approaching summer holiday season. Algerians planning to travel abroad are purchasing foreign currencies to cover hotel bookings and other travel expenses.

The increase in the euro will increase the summer vacation bill this year for Algerians.

Algeria: Euro’s Rise Impacts Holidays and Overseas Studies

Travel agencies typically handle these transactions, managing payments for reservations and tourist services. The rising euro will likely increase summer vacation costs for Algerians, potentially leading them to choose cheaper destinations or forgo travel altogether, especially with the new tourist allocation of 750 euros not yet in effect.

The approaching summer also involves preparations for those sending their children to study abroad,which is becoming increasingly expensive.

For instance, in France, a student must show proof of having over 7000 euros in their account to obtain a residence permit.On the official market,exchange rates for the euro and dollar have remained stable. On Friday, the euro was listed at 149.77 DZD, and the dollar at 132.32 dinars, according to the Bank of Algeria.