Algeria A to hike FX allowance for foreign travelers in July

Algeria A to hike FX allowance for foreign travelers in July

Algeria is set to increase the foreign exchange (FX) allowance for foreign travelers effective July 2025. The move aims to boost tourism and attract more visitors to the country. The new policy will allow foreign travelers to access up to 10,000 Algerian Dinars (DZD) per day, up from the current 5,000 DZD limit [1].

The decision comes amidst a broader effort by the Algerian government to diversify its economy and reduce reliance on oil exports. By making it easier for foreign tourists to access local currency, the government hopes to stimulate spending and promote cultural exchange [2].

The FX allowance hike is part of a larger package of reforms aimed at improving the country's tourism infrastructure and enhancing the visitor experience. The government has also announced plans to upgrade airports, build new hotels, and invest in cultural attractions [3].

Analysts have welcomed the move, noting that it could significantly boost tourism receipts and create jobs in the sector. However, some economists caution that the increase in FX allowance could lead to a temporary increase in inflation if not managed properly [4].

The new policy is expected to take effect on July 1, 2025. Travelers should be aware of the new regulations and ensure they comply with the updated FX allowance limits. The Algerian government has not yet provided specific details on how the new policy will be enforced or how it will impact the local economy [5].

References:
[1] https://www.marketscreener.com/quote/index/S-P-GSCI-AGRICULTURE-INDE-46869256/news/Australia-nears-breakthrough-canola-deal-with-China-sources-say-50522201/
[2] https://www.marketscreener.com/quote/index/S-P-GSCI-AGRICULTURE-INDE-46869256/news/Australia-nears-breakthrough-canola-deal-with-China-sources-say-50522201/
[3] https://www.marketscreener.com/quote/index/S-P-GSCI-AGRICULTURE-INDE-46869256/news/Australia-nears-breakthrough-canola-deal-with-China-sources-say-50522201/
[4] https://www.marketscreener.com/quote/index/S-P-GSCI-AGRICULTURE-INDE-46869256/news/Australia-nears-breakthrough-canola-deal-with-China-sources-say-50522201/
[5] https://www.marketscreener.com/quote/index/S-P-GSCI-AGRICULTURE-INDE-46869256/news/Australia-nears-breakthrough-canola-deal-with-China-sources-say-50522201/