ALGERIA

(DZD) Currency News >>

CURRENCY:

Dinar (DZD)

DENOMINATIONS:

NOTE: DZD 1,000, 500, 200, 100 and 50

COIN: DZD 100, 50, 20, 10, 5, 2 and 1, and 50, 20, 10, 5 and 1 centimes

US DOLLAR ACCEPTED:

Yes, as are Euros.

CREDIT/DEBIT CARDS AND ATMS:

Credit cards are generally only accepted in urban areas. ATM machines are limited and should be used with caution – it is wise to stick to those in large cities and towns.

CURRENCY EXCHANGE:

Facilities for currency exchange in Algeria are limited and the sole national bank (La Banque Extérieure d'Algérie) was in the past the only avenue for exchanging currency. It has become easier now with some of the larger hotels able to provide this service.

TRAVELLER'S CHEQUES:

Not recommended for use in Algeria. Only 'top-class' hotels accept these, and specific souvenir shops. If you must take Travellers Cheques, it is recommended travellers take cheques in US Dollars and Euros. This is to avoid additional rate change charges.

CURRENCY RESTRICTIONS:

Import and export of local currency is prohibited for non-Algerians. Limits are in place on import and export of foreign currencies.

BANKING HOURS:

Sun -Thurs 0900-1530.

COUNTRY OVERVIEW:

Officially the People's Democratic Republic of Algeria, this country is located in North Africa. It is the largest country belonging to the Mediterranean sea and the second largest country of North Africa.

The capital is Algiers. The two main languages spoken in Algeria are Arabic and French.Algeria is a member of the Arab League, United Nations, African Union and OPEC. It also contributed towards the creation of the Arab Maghreb Union.

The predominant religion of Algeria is Islam, and is practised by around 99% of the population. The remaining 1% is Christian.

Foreigners travelling to Algeria should check their Government advice homepage before travel as there are dangers to be aware of including violent crime.

POPULATION:

33,769,669

ECONOMY:

The main element of the Algerian economy is the fossil fuels sector. In the world, this country ranks at number 14 in petroleum reserves. In the first five years of this millenium, the US Energy Information Administration stated that Algeria had the eighth largest reserve of natural gas.

In 2006, Algeria decided it would pay off its USD 8 billion debt to the Paris Club – a group of rich creditor nations – ahead of schedule. This move would improve their economic standing and reduce their overall debt.