What is the "Algerian Algeria Dinars"?

The currency of Algeria. Currency code (DZD).

Overview

The official currency for Algeria is the Algerian Dinar (DZD). The Dinar is divided into canteen; 1 Dinar = 100 santeem. The Central Bank of Algeria issues banknotes.

Economy

  • Algeria relies on the export of natural gas and petroleum.
  • The Algerian economy is based on industry, which accounts for 61% of the yearly GDP.
  • Unemployment in the country is 10.2%.
  • The main industries are natural gas and petroleum.
  • 97% of the export products are petroleum products, natural gas, and petroleum. Other export products are wool, grapes, fruit, iron, ore, wine, and cereals.
  • Import products are consumer goods, foodstuffs, and capital goods.
  • Inflation is rated at 5.7%.
  • Fishing and agriculture account for a small part of the economy.
  • Algeria has an abundance of minerals. The mining industry consists of copper, zinc, lead, iron, mercury, and calamine.
  • Trade and foreign investments are lacking; more growth is needed in this sector. A new law was passed in 2005 to encourage investment.

History

  • In 1964, the Algerian Dinar replaced the Algerian Franc. Banknotes were distributed in 5, 10, and 100 Dinar denominations. Coins were also issued in 50, 20, 10, 5, 2, and 1 santeem denominations.
  • Commemorative coins were issued sporadically during the following decades.
  • In 1970, the 500 dinar banknote was added.
  • The 1 and 2 santeem coins were later withdrawn.
  • In the 1980s, the 20, 10, and 5 santeem coins were withdrawn.
  • In 1992, a new series of coins was introduced and a new 100 dinar banknote.