Algeria - Money



The value of the Algerian dinar held steady until September 1994, due to the central bank's policy of setting it at a fixed rate against other widely used currencies. This policy resulted in a wide gap between the official rate and informal exchange rates on the black market , where the dinar sold as high as 6 times the official rate at the end of 1989. The dinar has since been stable, but only after the government introduced full convertibility, allowing local importers to bid for hard currency in the local banking system. The country's strong foreign exchange reserves have allowed the banking system to meet the currency demands of the local market. Since 1998, the dinar has averaged AD66.57 to the U.S. dollar, but had slightly devaluated at the end of 2000, averaging 79.14 to the U.S. dollar.

Exchange rates: Algeria
Algerian dinars per US$1
Jan 2001 74,813
2000 75.260
1999 66.574
1998 58.739
1997 57.707
1996 54.749
SOURCE : CIA World Factbook 2001 [ONLINE].
Also read article about Algeria from Wikipedia

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Nov 4, 2010 @ 8:08 am
ijust want to know the salary in that country algeria is not euro?

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