Exchange Rates

The government tightly controls foreign exchange, and the central bank severely restricts the repatriation of currency from payments. A company (outside of the hydrocarbons sector) may only receive up to 50 percent of its export earnings in U.S. dollars; it must receive the rest in local currency. Companies in the hydrocarbons sector must receive 100 percent of export revenue in local currency (dinar).

With few exceptions, the Government of Algeria prohibits Algerians from holding financial assets abroad. It does make foreign exchange available to Algerians for the importation of goods provided they have the dinar equivalent of the hard currency cost of the imports.

The Algerian dinar is convertible for current accounts for businesses. Individuals are entitled to own overseas accounts and transfer funds, but the Bank of Algeria cannot convert payments.