The official currency for Algeria is the Algerian Dinar (DZD). The Dinar is divided into santeem; 1 Dinar = 100 santeem. Bank notes are issued by the Central Bank of Algeria. The symbol for the Dinar is DA; the Arabic symbol is (د.ج).
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The 1 and 2 santeem coins were later withdrawn.
In the 1980s, the 20, 10, and 5 santeem coins were withdrawn.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, as well as a new 100 dinar banknote.
