Algerian Dinar
About Algerian Dinar
The Algerian dinar replaced the Algerian new franc in 1964 after independence from France. The dinar has depreciated steadily due to oil revenue dependence and economic mismanagement. Algerian banknotes feature historical figures, landmarks, and cultural scenes. The Bank of Algeria was established in 1962. The dinar is not freely convertible. Algeria operates a managed exchange rate with multiple tiers for different types of transactions.
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