Maghreb Edition

Algerians brace for currency devaluation, fueling informal forexF

Posted On 5 April 2018

Number of times this article was read : 447

The North Africa Journal – 5 April 2018: The informal foreign currency exchange market (forex) in Algeria is more vibrant than ever, and continues to expand. The use of such market is widespread because of an ineffective financial sector and regulations that are outdated amid government policies that incentive such black market.  Although the situation is bad, it is likely to get even worse. For several months, there have been rumors of an upcoming devaluation of the dinar and so Algerian buyers are essentially accelerating their purchases of foreign currencies in the informal market in anticipation of an upcoming devaluation.

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Written by The North Africa Journal

The North Africa Journal is a leading English-language publication focused on North Africa. The Journal covers primarily the Maghreb region and expands its general coverage to the Sahel, Egypt, and beyond, when events in those regions affect the broader North Africa geography. The Journal does not have any affiliation with any institution and has been independent since its founding in 1996. Our position is to always bring our best analysis of events affecting the region, and remain as neutral as humanly possible. Our coverage is not limited to one single topic, but ranges from economic and political affairs, to security, defense, social and environmental issues. We rely on our full staff analysts and editors to bring you best-in-class analysis. We also work with sister company MEA Risk LLC, to leverage the presence on the ground of a solid network of contributors and experts. Information on MEA Risk can be found at www.MEA-Risk.com.