Algiers “Square”, Kingdom of the Euro!
Algiers- At a few meters from the legislative institutions of the state, in full sight of National Security, dozens of young unemployed people, from different parts of the country, ignoring the most basic concepts of finance, administer the Algiers stock exchange.
- These young people, most of whom do not even have the level of primary school, constitute an important element in the chain of the currency market in Algeria. As a proof of this, the volume of transactions and the category of customer that vary from simple small trader to representatives of embassies and consulates.
- These are the businessmen of foreign currency, who manipulate the market of currency, and who even ignore for whom they work!
The CV, origin, criminal record or certificate of good health (physical and mental), are not essential and have no value in recruitment for the bigwigs of the currency in Algeria. It would be foolish to believe that these young people work on their behalf. A long chain of people receive instructions and orders not even knowing from whom or for whom they work, a kind of pyramid but no one knows the big boss upstairs.
This is the place Port Said, better known as the "Square" where these young people can meet sellers or buyers of foreign currencies. The square is located a few meters from the seats of the Senate and the National People's Congress (NPC), the seat of the great post and many head of national security.
The Square: Kingdom of the Euro ... where is the State?
The decor has become, over time, so ordinary that people can not find anything to say. The square works well on Friday as banks are closed. The black market does not know weekly, monthly or yearly holiday. On the contrary, during the days of feasts, major holidays or the season of pilgrimage, the activity increases, due to increasing demand. These days, it is the Hajjis who flock to the square to buy some Euros.
Sellers of currency do not hide when police pass by, like their colleagues, vendors of clothing and other home furnishings. They continue to work quietly as if nothing happens when police vehicle or cops on foot pass by. One gets the impression that the activity is legal. Yes, it has become so legal that the square is called "Algiers Stock exchange," where millions of dinars circulate daily in transactions taking place outdoors under the sight of the authorities and without these latter move a finger!
The black market of currency, as strange as it is, attracts a diverse and varied clientele; simple traders, immigrants, tourists, Hajjis, businessmen and even representatives of embassies and consulates come everyday to sell or buy Euros or dollars.
According to lawyer Merouane Azzi, selling the currency on the black market is illegal!
Ennahar / Zaid Aftis