While a considerable amount of money is sent from the United States to Algeria regularly, a tidy sum travels in the opposite direction as well. In 2016, around U.S. $21 million was sent from the United States to Algeria as remittances. In the same year, around U.S. $5 million was sent as remittances from Algeria to the United States. Bilateral trade of goods and services between both countries accounted for over U.S. $6.1 billion in 2016.
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The U.S. dollar has served as the official currency of the United States since 1792. Outside of the U.S., its use as legal tender is also found in El Salvador, Ecuador, the British Virgin Islands, the Caribbean, two British Overseas Territories, the Federated States of Micronesia, and Turks and Caicos Islands. Its unofficial use is seen in places such as Cambodia, Myanmar, Liberia, Belize, and Panama.
The U.S. dollar is at the top spot in the basket of global reserve currencies. It is also the most heavily traded currency globally. In April 2016, the U.S. dollar’s share in the international forex market turnover was 87.6%. Estimates suggest that more than U.S. $5 trillion passes through the global forex market every day.
|Nicknames||Buck, moolah, paper, dough, dead presidents, |
bones, greenback, green
|Bank notes||$1, $2, $5, $10, $20, $50, $100|
|Coins||1c, 5c, 10c, 25c, 50c, $1|
Algeria adopted the Algerian dinar as its official currency in 1964. It replaced the then in use Algerian franc at par. While the Algerian dinar is subdivided into 100 centimes, their low value has made their use obsolete.
The use of the term “dinar” is not common in everyday Algerian life. Vendors in typical marketplaces display their prices in frank. Modern shops might display prices in dinars. However, oral communication often comes with the use of frank, and at times, doros.
The corresponding table indicates the relationship between frank, doros, dinars, and centimes.
|1 frank=||1 centime|
|2 frank=||2 centimes|
|3 frank=||3 centimes|
|4 frank=||4 centimes|
|1 doro=||5 centimes|
|2 doros=||10 centimes|
One dinar, as a result, is either 100 frank or 20 doros. Given that coins below five dinars are hard of find in the present day, the use of doros is largely on the decline. So, 50 dinars would typically be displayed as 5,000 frank, and 1,000 dinars would translate to 100,000 frank.
|Currency symbol||(Arabic) or DA (Latin)|
|Bank notes||100 dinars, 200 dinars, 500 dinars, |
1,000 dinars, 2,000 dinars
|Coins||2 dinars, 20 dinars, 50 dinars|
U.S. Dollar / Algerian Dinar Historical Rates
After a period of relative stability through the early part of the 1990s, the value of the Algerian dinar began of drop against that of the U.S. dollar. From around DA 23.93 against the U.S. dollar in February 1994, it was trading at almost DA 36 against the U.S. dollar by April 1994. Its gradual decline in value continued until late 2000. In October 2000, the Algerian dinar was trading at around DA 78.14 against the U.S. dollar.
A period of relative stability for the USD/DZD currency pair ensued until early 2003, after which the Algerian dinar started to regain some lost ground. In November 2003, the Algerian dinar traded at DA 69.44 against the U.S. dollar.
The USD/DZD currency pair did not experience too much volatility from the end of 2003 to the end of 2006. Then, the Algerian dinar appreciated some more. In August 2008, in the midst of the global financial crisis, it traded at around DA 61 against the U.S. dollar.
The value of the Algerian dinar fell quickly from late 2008 to early 2009. In March 2009, it traded at over DA 75 against the U.S. dollar. Another period of relative stability followed from then until early 2012, and then until mid 2014.
Falling oil prices in the international market during 2014 did not bode well for the Algerian dinar. From around DA 77.5 against the U.S. dollar in February 2014, the value of the Algerian dinar dropped to over DA 100 by mid 2015. By June 2016, it was trading at over DA 110 against the U.S. dollar. In October 2017, it breached the DA 115 mark against the U.S. dollar for the first time.
USD/DZD in the last five years
|U.S. $1 =|
|1 July, 2013||DA 79.427|
|1 July, 2014||DA 79.885|
|1 July, 2015||DA 99.310|
|1 July, 2016||DA 110.198|
|1 July, 2017||DA 109.390|
USD/DZD in the last five months
|U.S. $1 =|
|1 April, 2018||DA 114.934|
|1 May, 2018||DA 116.453|
|1 June, 2018||DA 117.479|
|1 July, 2018||DA 117.725|
|1 August, 2018||DA 118.026|
What Affects USD/DZD Rates?
In October 1994, Algeria abandoned the fix pegged system in a move achieve increased exchange rate flexibility. However, the Bank of Algeria introduced a managed float system which continues to link the value of the Algerian dinar to the U.S. dollar.
The Bank of Algeria monitors the exchange rate of the Algerian dinar vis-à-vis major currencies such as the U.S. dollar and the euro, and it takes necessary measures to keep the value of the dinar relatively stable.
The reliance of Algeria’s economy on oil-based exports means that falling oil prices adversely affect the value of the Algerian dinar. While a law enacted in 2005 hoped to encourage trade and foreign investment in the region, not much has happened on that front.
Some of the other factors that may have an effect on how the USD/DZD currency pair performs include the trade relationship between the two countries, their gross domestic products (GDPs), interest rates, changes in monetary policies, as well as trade balances with major trading partners.
If you wish to send money from Algeria to the United States or the other way around, take time to compare USD/DZD exchange rates provided by different overseas money transfer companies. The fees you have to pay also need your attention, as do aspects such as payment methods and customer service.