US Dollar rallies on the black market while Euro is reeling in the banks

U.S. dollar rallied against the Algerian Dinar on the black market surging from 860 to 910 AD at the moment where $ 100 was exchanged at a level of 8300 Algerian Dinars last November.

• The US currency’s rally on the informal market is due to the actual Dollar/euro parity as the US bill leveled off against the European currency both in the banks and the black market, Echourok has noticed.
• The Euro/Algerian Dinar parity has been fixed by the Algerian Bank for Sunday’s exchange to 1 Euro against 10.55 Algerian Dinars.
• The value index of the US dollar has been fixed to 767 Algerian Dinars for Sunday’s exchange, while it exchanged at a level of 910 Algerian Dinars on the black market. However, the Algerian citizens are forced to turn to the black market to acquire hard currency because the Algerian legislation allows its selling for importers and exporters only.
• By contrast, the European currency plummeted on the black market against the Algerian Dinar felling from 12.65 Algerian Dinars for 1 Euro to 10.25 AD for 1 Euro, a sharp shrink in comparison to last October and November.
• The rally of the US currency on the black market is contrasted by the fall of Euro in the major stock exchanges across the world. 100 Euros equaled $ 147 two weeks ago while the parity Dollar/ Euro narrowed to 100 Euros for 136 Dollars.
• Specialists have attribute the rise of the US Dollar on the black market and the collapse of the Euro in banks to the two main reasons; the first is the fall of the European value in comparison to the Dollar on the international market, which impacted on the hard currency in Algeria, the second reason is due to the increase of the informal businessmen’s activities pulling the dollar’s value upward.

by echoroukonline