DZD: Set To Hold SteadyDecember 2011 | Currency Forecast
Our near-term outlook for the Algerian dinar is neutral. The currency has been in a multi-quarter downtrend against the US dollar, and the unit traded at DZD74.33/US$ on December 16. As the dinar is reaching medium-term support at DZD75.00/US$, we foresee sideways trading for the unit in the near term. We have set a short-term target for the unit at DZD75.00/US$. Against the euro, we expect the currency to head to DZD95.50/EUR (compared to DZD96.88/EUR currently).
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