Timeline

• July 1685
• Introduction of a new accounting standard based on the Algerian Piastre of 232 Aspers (small silver coins) with an initial value of 1 Seville Piastre = 1½ Algerian Piastres which quickly deteriorated until it stabilized at a ratio of 1 : 4½ in mid-1723
• 1800-1830
• Reform of the gold and silver coins, base weight was the Algerian mithkal / 24 kharub (carat) at 4.669 grams:
  - around 1808 (AH1223): Gold coins in units "Sultani" of nominally 13½ Algerian Piastres at about 13⅓ Algerian kharub fine gold (3.19 grams of 0.813 gold)
  - around 1820 (AH:1236): Silver coins in units of "Budju" of 3 Algerian Piastres at about 43¾ Algerian kharub fine silver (9.90 grams of 0.860 silver).
• around 1830
• Rating of foreign coins:
  - Spanish Dollar (8 Spanish Real in silver) = 9⅝ Algerian Piastres
  - 5 French Francs (AG) = 8.25 Algerian Piastres
  - Venetian Ducat (AU) = 14¼ Algerian Piastres.

Timeline

• 01.01.1831
• Start of currency exchange:
  - 01.01.1831: Start of issuance of French coins
  - Rating of the circulating coins at Sultani (AH1223) = 8.898 French Francs (nominal, rating depended on actual weight); Budju (AH1236) = 1.86 French Francs; 5 Aspers = 0.0137 French Francs
  - 04.09.1849: Demonetization of the former coinage.

Timeline

• 04.08.1851
• Law on the founding of the Bank of Algeria with 25 years' issuance privilege for paper money; effective upon constitution of the bank on 01.11.1851:
  - 01.11.1851: Start of banknote issuance by the Bank of Algeria
  - The issuance privilege was renewed six times until it finally expired on 31.12.1945.
• 19.12.1900
• French law on the creation of a distinct Algerian budget, establishing the financial autonomy; effective 01.01.1901
• 07.05.1904
• Decree by the Bey of Tunis on the extension of the extension of the Bank of Algeria's issuance privilege for paper money to Tunisia; effective immediately
• 1915-1922
• Issuance of local emergency tokens in the name of the Chambers of Commerce of the cities of Algiers, Bône (Annaba), Bougie (Béjaïa), Constantine and Oran
• 25.06.1945
• Resolution of the Provisional Government of France on the issuance of a 2 Francs token in Algeria; put into circulation on 01.10.1945:
  - Originally intended for use by the Allied troops in liberated France ba ordinance of 26.08.1943 but never used for this purpose.
• 17.05.1946
• Law [No. 1070] on the nationalization of the Bank of Algeria; effective immediately
• 12.01.1949
• Law [No. 49] on the reconstitution of the Bank of Algeria and name change into "Bank of Algeria and Tunisia"; effective immediately
• 27.05.1950
• French law [No. 586] on the special accounts of the Treasury; effective immediately:
  - §26 authorized the issuance of subsidiary coins of 100, 50, 20, 10 Algerian Francs; the circulation of the 20 Francs coins had already started in 1949, the 10 Francs coins were not produced.
• 25.07.1958
• Agreement between the Tunisia and the Bank of Algeria and Tunisia on the termination of the issuance privilege for paper money in Tunisia on 31.12.1958; ratified in France by ordinance [No. 1131] of 25.11.1958 (which triggered also the name change into "Bank of Algeria"); effective 31.12.1958

Valuation Regimes

• 1851-1958
• Identical to the French Franc (1795), convertibility of the Algerian banknotes was limited

Timeline

• 27.12.1958
• French law [No. 58-1341] on the currency reform (applicable to Algeria without proclamation); effective immediately
• 22.12.1959
• French law [No. 59-1450] on the introduction of new banknotes and coins; effective 01.01.1960
• 01.01.1960
• Start of currency issuance:
  - 01.01.1960: Start of issuance of new Algerian banknotes completed by overprinted former banknotes.
  - The former banknotes were not demonetized but gradually withdrawn from circulation.
• 28.08.1962
• Agreement between Algeria and France on the legal and financial transition; ratified in France by ordinance [No. 1020] of 29.08.1962:
  - The protocols on the "Provisional terms of execution of Algerian and French financial operations" and "Financial supervision" extended the operational activities of the Bank of Algeria (without naming it and under the auspices of the Algerian Treasury) until 31.12.1962.
  - The Bank of Algeria was dissolved on 31.12.1963 by French government resolution [unnumbered] of 10.12.1963.
• 13.12.1962
• Law [No. 144] on the establishment of the Algerian Central Bank; effective upon constitution of the bank on 01.01.1963

Valuation Regimes

• 1958-1964
• Identical to the French Franc (1958), convertibility of the Algerian banknotes was limited

Timeline

• 10.04.1964
• Laws [No. 111] on the creation of the national currency and [No. 112] on the exchange rate of the Algerian Franc; effective 01.01.1964 (retroactive).
  - A government decree [unnumbered] of the same day fixed the start of transition to 11.04.1964.
• 11.04.1964
• Start of currency issuance:
  - 11.04.1964: Start of issuance of new banknotes of 100, 50, 10 Dinars
  - 18.04.1964: Demonetization of the paper money of the Bank of Algeria (and Tunisia) except for the lowest denomination and unlimited exchange into new banknotes (for Algerian residents only).
  - 21.12.1964: Start issuance of new banknotes of 5 Dinar (based on government decree [No. 346] of 04.12.1964)
  - 31.01.1966: Demonetization of the lowest denomination former Algerian banknotes and unlimited exchange into new banknotes.
  - 08.07.1965: Start of issuance of new subsidiary coins (based on government decree [No. 179] of 29.06.1965)
  - 15.09.1966: Demonetization of the former Algerian subsidiary coins (dated 1949-1954).
• 14.04.1990
• Law [No. 10] on the restructuring of the central bank and name change into Bank of Algeria; effective immediately

Valuation Regimes

• 1964-1971
• Fixed rate against gold
• 1971-1974
• Fixed rate against French Franc (1958)
• 1974-
• Variable rate