Guide 30 · valid as of 22 October 2026 · getsahla.com
In mid-October 2026, one euro was worth about DZD 151 at the bank and about DZD 275 on the Port-Saïd square in Algiers. That gap pushes many freelancers to sell their foreign currency on the black market, which is an exchange-control offence punished by prison. The legal route is to keep your earnings in foreign currency and only convert to dinars what you need.
The numbers
| Where | €1 in dinars | Date |
|---|---|---|
| Bank of Algeria (official rate) | DZD 151.08 | 16 October 2026 |
| BEA (commercial rate, buy / sell) | DZD 150.38 / 150.42 | 8 October 2026 |
| Port-Saïd square, Algiers (buy / sell) | DZD 274 / 276 | 9 and 16 October 2026 |
Convert €1,000 and you get about DZD 151,000 at the bank, against about DZD 274,000 on the square. The gap is over 80%. For the dollar, the square quoted DZD 237 to 240 on 16 October 2026.
Square rates are collected by the press. They vary by place and seller, and they aren’t official.
Why the gap exists
The Bank of Algeria sets the official rate. The parallel market meets demand for foreign currency that banks don’t cover: travel beyond the travel allowance, studies, medical care, shopping abroad. On that market, the euro sells for almost twice as much.
What it means for you
- If your earnings are declared (guide 7), they arrive in foreign currency, 100% of them, in your foreign currency account (guide 8). Nothing is converted at the official rate by default.
- You choose when to convert. You can pay business expenses directly in foreign currency (guide 10) and only convert what you need to live on.
- If your earnings aren’t declared or arrive late, the bank pays them out in dinars at the official rate (Regulation 07-01, art. 57Règlement 21-01 du 28 mars 2021 modifiant le règlement 07-01 (articles 57 et 67), p. 2 and 67; guides 8 and 9). That’s where you lose the most.
The methods
Keep your foreign currency and convert at the bank, a little at a time
Set out in Instruction 06-2021Instruction 06-2021 du 29 juin 2021 relative au compte devise commerçant et au compte devise professionnel non commerçant (art. 4 and 7) and Regulation 07-01Règlement 07-01 du 3 février 2007 relatif aux règles applicables aux transactions courantes avec l'étranger et aux comptes devises (version d'origine) (art. 57 and 67).
- Declare each project before the first invoice so everything arrives in foreign currency (guide 7).
- Pay business expenses such as software, equipment and training in foreign currency, with the account’s card (guide 10).
- Convert to dinars at the bank rate only what you need each month. Ask your branch whether your type of account allows it (guide 10).
- For trips, use the travel allowance: €750 per calendar year from age 19 (guide 19).
It isn’t the best rate, but it’s the only one that stays within the law.
Selling your foreign currency on the square or to a private buyer
Withdrawing cash from your account to sell on the square, selling your Payoneer or PayPal balance for dinars in cash or by CCP, or going through a money changer on social media: all of these are buying or selling currency outside the official system. The penalty: two to seven years in prison, a fine of at least twice the amount involved, and confiscation (Ordinance 96-22, art. 1 bisOrdonnance 03-01 modifiant l'ordonnance 96-22 (JO n° 12 de 2003), p. 14 and 2). It’s also where scams thrive: fake transfers, fake receipts, frozen accounts (guide 27).
Cash withdrawals from a professional foreign currency account are only allowed as an exception anyway (Instruction 06-2021, art. 5Instruction 06-2021 du 29 juin 2021 relative au compte devise commerçant et au compte devise professionnel non commerçant and 12): repeated withdrawals to sell on the square will catch your bank’s eye.
Getting paid abroad to sell on the square
Some people keep their earnings on Payoneer or with a relative abroad, then sell them for dinars in Algeria. That’s two offences at once: assets held abroad and not brought home (Regulation 07-01, art. 8Règlement 07-01 du 3 février 2007 relatif aux règles applicables aux transactions courantes avec l'étranger et aux comptes devises (version d'origine), p. 2; guide 17), and currency exchange outside the official system.
Key points
- Mid-October 2026: about DZD 151 at the bank, DZD 275 on the square for €1.
- Keep your earnings in foreign currency and only convert what you need, at the bank.
- Selling on the square, even a small amount, is an exchange-control offence.
Sources
- Official rate and square rates on 16 October 2026: Observ’Algérie, 16 October 2026, read on 22 October 2026.
- BEA commercial rate (8 October 2026) and square rates: Algérie 360, 9 October 2026, read on 22 October 2026.
- Bank of Algeria Instruction 06-2021 of 29 June 2021: art. 4 and 5, p. 1; art. 7, p. 2; art. 12, p. 3, original text read on 22 October 2026.
- Bank of Algeria Regulation 21-01 of 28 March 2021: art. 2 and 5, new articles 57 and 67 of Regulation 07-01, p. 2, original text read on 22 October 2026.
- Bank of Algeria Regulation 07-01 of 3 February 2007: art. 8, assets abroad, p. 2, original text read on 22 October 2026.
- Ordinance 96-22 as amended: Ordinance 03-01, art. 3 (article 1 bis, penalties) and art. 4 (article 2, buying or selling means of payment), Official Journal no. 12 of 2003, p. 14; Ordinance 10-03, rewritten art. 1 bis, Official Journal no. 50 of 2010, p. 8, read on 22 October 2026.