Currency in Algeria DZD - Things to know
Foreign exchange guide to Algeria and the Algerian dinar
What's in this Algeria currency guide?
What currency is used in Algeria?
The official currency of Algeria (country code: DZ) is the Algerian dinar, with symbol دج and currency code DZD.
Travel money for Algeria
Save money and time by Ordering your Algerian dinar online from Travelex, you get better rates and can pick up the DZD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Algerian dinar otherwise you may get much worst exchange rates.
Travel Ideas and Money Tips for Algeria
Algeria is a country located in North Africa, known for its rich history, culture, and natural landscapes. The country is the largest in Africa and the 10th largest in the world. The capital and largest city is Algiers, and the official language is Arabic. The country has a presidential semi-presidential and multi-party system of government.
For travelers, Algeria offers a variety of experiences, from its historic and cultural sights to natural landscapes and beaches. Some popular tourist destinations include:
Algiers: The capital city, known for its historic Casbah, a UNESCO World Heritage site, and the Martyrs' Memorial, which is a tribute to the victims of the country's war of independence.
Tassili n'Ajjer National Park: A UNESCO World Heritage site, known for its stunning rock formations, prehistoric rock art and diverse wildlife.
Timgad: A UNESCO World Heritage site, Timgad was a Roman military colony founded by Emperor Augustus in the 1st century AD.
Ghardaia: A city known for its traditional architecture, and its M'zab valley, a UNESCO World Heritage site, which is home to five ksour, fortified villages that are still inhabited by the Mozabite Berbers.
Beaches: Algeria has a Mediterranean coast that offers many beautiful beaches such as those of Zeralda, Dellys.
It's worth noting that the country has experienced some political instability in recent years, and visitors should exercise caution and be aware of the current security situation before traveling. Algeria also has strict laws regarding photography, especially in certain areas, visitors should be informed and respect local laws.
The Algerian dinar (DZD) is the official currency of Algeria. The dinar is subject to fluctuations in the international currency markets, like any other currency. In recent years, the value of the dinar against other currencies has fluctuated due to a combination of economic, political, and global factors.
It is important to keep in mind that currency fluctuations can have a significant impact on the cost of living and travel expenses, so it's important to monitor the exchange rate and plan accordingly when traveling or living in Algeria.
USD/DZD Market Data
The below interactive chart displays the USD/DZD trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
Frequently Asked Questions
What currency should I use in Algeria?
The domestic currency in Algeria is the Algerian dinar.
What is the Algerian dinar currency code and symbol?
The three letter currency code for the Algerian dinar is DZD — symbol is دج.
Which countries use the Algerian dinar?
It is the domestic currency in Algeria.
Is the Algerian dinar a closed currency?
No, the Algerian dinar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and DZD?
Converted at USD/DZD interbank rate, compare Send Money and Currency Exchange exchange rates.
Send Money to Algeria - Best Rates
To get a good (and fair) exchange rate when sending money to Algeria you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Algeria
When sending money to Algeria it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Algerian dinar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted DZD amount will be transfered to the recipient account you specify in Algeria.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Algerian dinar deposited into the recipient bank account and less margins and fees kept by the banks!
Expat Money & Business Guide to Algeria
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Algeria.
Algeria for expats
For expats, Algeria can be a challenging place to live, as the country has some cultural and language barriers. The majority of the population speaks Arabic, and French is also widely spoken, However, English is not widely spoken and finding an English-speaking community can be difficult. Additionally, the country's culture is quite different from Western cultures, and expats may find it difficult to adapt to certain customs and traditions. Also, the country has a relatively high level of poverty and income inequality.
The country has a Mediterranean climate with mild and wet winters and hot, dry summers. The country is prone to earthquakes and it's important to be aware of the local situation regarding natural disasters and be prepared.
The Algerian economy
The Central Bank of Algeria has been using various monetary policy tools to stabilize the dinar, such as raising interest rates, increasing reserves, and using foreign exchange intervention. Despite these efforts, the dinar has been facing a depreciation trend due to the fall in oil and gas prices, which are the main source of foreign currency for Algeria, as well as the heavy state subsidies and a high level of public debt.
The black market rate has been fluctuating and deviating significantly from the official rate. The black market rate often reflects the lack of foreign currency availability and the high demand for it in the country, as well as the difficulties to access foreign currency through the official channels.
It's worth noting that it's illegal to exchange money on the black market and if you get caught you could face severe penalties. Therefore, it is advisable to use only official currency exchange services, such as banks and authorized money changers.
Managing your finances in Algeria
Here we list some key points for expats and businesses to consider when managing financial dealings in Algeria:
Understand Algerian dinar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the DZD exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Algerian dinar bank account: A local DZD bank account can make it easier for you to manage your finances and pay bills while you are in Algeria. It may also be more convenient to use a local DZD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Algeria. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Algeria. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Algeria, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
