Monday 7 October 2013

Algerians Amass Black-Market Euros as Arab Spring Drives Demand - Bloomberg

Algerians Amass Black-Market Euros as Arab Spring Drives Demand - Bloomberg:

"Across the street from the parliament, courthouse and main police station in central Algiers is the country’s biggest illegal market for foreign exchange.
“Currency, currency!” Nadir, 28, shouts out to passing cars from his spot on the curb of Port Said Square in the Algerian capital. “Come here for your currency!” He’s among dozens of money changers milling around the gardens of the sunbaked esplanade overlooking the Mediterranean, chatting on mobile phones and counting crisp dinar notes. Last week, their going rate was a record 150 dinars ($1.84) per euro, almost 40 percent more than the official price."

'via Blog this'

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