Algeria - Foreign Exchange ControlsAlgeria - Foreign Exchange Controls
The government tightly controls foreign exchange for Algerian firms. Algerian companies (except those in the hydrocarbons sector) may only receive up to 50 percent of their export earnings in U.S. dollars; the remainder must be paid in local currency. Algerian companies in the hydrocarbons sector must receive 100 percent of export revenue in local currency (dinars). With few exceptions, the Algerian government prohibits Algerians from holding financial assets abroad. It does make foreign exchange available to Algerians for the importation of goods provided they have the dinar equivalent of the hard currency cost of the imports. The Algerian dinar is convertible for current accounts for businesses.
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