New currency: The Algerian Dinar

In Eurochange we are introducing new currencies constantly, today we want to present the one we added to our list a few weeks ago, it is the DZD, the Algerian dinar. As you well know, in EUROCHANGE you can change from DZD to Euro or from Euro to DZD.

The dinar (Arabic: دينار جزائري dinar jaza'iri, or دينار dinar; french dinar algérien) is the official currency of Algeria since April 1, 1964, when it replaced the Algerian franc. Its ISO 4217 code is DZD and its abbreviation is DA. Its name derives from the Roman denarius. The coin is divided into 100 cents. Both their import and export are totally prohibited. It is a non-convertible currency, this means that it is not listed on the stock exchange and the price depends on the Algerian monetary authorities who are the ones who set its equivalent against the other currencies.

• COINS

At the time of its creation, a series of coins of 1, 2, 5, 10, 20 and 50 cents, and a dinar, were put into circulation, being reflected in both Arabic and French. Due to the economic problems of the country, the cents were discarded although the prices are still reflected. And the 1 and 2 dinar coins almost stopped being used. The coins that circulate most frequently in Algeria are those of 5 dinars or higher. In August 2012, a new 200 dinar bimetallic coin was put into circulation in commemoration of the 50th anniversary of independence.

• BANK NOTES

The Central Bank of Algeria (the Banque d'Algérie), is in charge of issuing the banknotes and coins of this North African country.The first series of Algerian dinar banknotes was issued in 1964 in denominations of 5, 10, 50 and 100 dinars. A second series appeared in 1970, made up of notes of 5, 10, 50, 100 and 500 dinar notes, in 1992 the fourth series came to light where the 1000 dinar notes were introduced and with the fifth and last series in circulation launched in 2000 dinar banknotes appeared in 2011.The texts on the obverses of the banknotes are written in Arabic, and those on the reverses in French, so that they differ from the old Algerian franc. The denominations of Algerian dinar banknotes in the current 1970 series are: 5, 10, 50, 100, 200, 500, 1000 and 2000 Algerian dinars.

If you are going to travel to Algeria or on the contrary you have left over dinars from a trip, look no further. Eurochange is your exchange house. Come to any office in our network, make a reservation through our website by clicking on EUROCHANGE or call us at the Customer Service Center 615403877 and we will solve your doubts.

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