Algerian Dinar (DZD)

TradingKey19 hours ago

The Algerian Dinar (DZD) serves as the official currency of Algeria, a nation located in North Africa. It is issued and overseen by the Bank of Algeria, which is the central bank of the country.

The dinar is subdivided into 100 smaller units known as centimes; however, due to inflation, centime coins are no longer in circulation. The Algerian Dinar was introduced in 1964, replacing the Algerian new franc at a conversion rate of 1 dinar to 100 francs.

The current series of banknotes in circulation includes denominations of 100, 200, 500, 1,000, and 2,000 dinars. Coins are available in denominations of 1, 2, 5, 10, 20, 50, and 100 dinars.

The value of the Algerian Dinar has undergone fluctuations over time, influenced by various factors such as political changes, economic conditions, and inflation. The currency is not freely convertible, and foreign exchange transactions are strictly regulated by the Algerian government.

Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

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