BANKNOTES OF ALGERIA
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Date	Pick#	Denomination	Observations	Obverse	Reverse
1983	134	200 Dinars
1992	137	100 Dinars
1998	141	500 Dinars
1998	142	1000 Dinars
2005	NEW	1000 Dinars

The history of the Algerian Dinar
During Ottoman times Algeria used the Asper, as its unit of account and as specie, although Spanish and Portuguese coins also circulated. No banknotes were issued prior to the annexation of Algeria by France.  The French franc became legal tender in 1830 and Banque de l’Algerie was established in 1851 and held the monopoly on the issuance of banknotes in Algeria. The French and Algerian franc traded at par and both French and Algerian banknotes circulated in Algeria, though the majority of the coins in circulation were French with only but a few Algerian coins being locally minted.

 Banque de l’Algerie became Banque de l’Algerie et de la Tunisie in 1949, issuing banknotes for both Algeria and Tunisia. When Tunisia formed its own central bank, the Banque de l’Algerie was reborn on November 3, 1958. In 1959 French and Algerian banknotes were made legal tender in both countries. In 1960 the nouveaux franc replaced the franc germinal at a rate of 100 franc germinal to one nouveaux franc. After a long war with France, Algeria gained its independence in 1962.  In 1963, the Central Bank of Algeria was formed and it began to issue its own franc, but this was short lived and the franc was replaced with the Algerian dinar in 1964. The Algerian dinar is divided into 100 centimes and the dinar’s ISO 4217 code is DZD.  The Central Bank of Algeria currently has held the monopoly on the issue of banknotes since 1963.

Currently coins in Algeria are issued in denominations of 5, 10, 20 and 50 dinars. Centime coins and 1 and 2 dinar coins are no longer used due to a period of inflation in the early 1990 which went along with a the transition to a more capitalistic economy. Banknotes currently come in denominations of 100, 200, 500 and 1000 dinars.  One thing that is odd, despite the lack of use of the centime, prices are still quoted by locals in centimes, i.e. a price of 200 dinars will be quoted as 20,000 centimes.

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Page created:     6 June 2006
Last Update:      29 June 2006

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