The Phonecians established colonies in Algeria and the first coins were probably minted in Algeria around 200 BC and were issued in the names of local Mauritanian and Numidian kings. Numidia became part of the African province in 46 BC and Mauritania became a Roman province in AD 40. Roman coins were issued and imported for the next 400 years. After the fall of the Roman Empire, Vandal and Byzantine coins were used.
Algeria became part of the Muslim world around 700, but it wasn't until the twelfth century that substantial numbers of coins were minted in Algeria. From the eleventh to the fifteenth century, Algeria was part of the route by which West African gold reached Europe. The Europeans minted imitation silver Islamic coins to exchange them for the Muwahhid gold coinage minted in Algeria.
Algeria (El Djazair) went under Ottoman rule in 1536 after it appealed to the Ottoman Empire for protection from Spanish intrusion. France invaded Algiers in 1830 to suppress piracy and had subdued most of the country by 1847. By 1848 the Algerian Atlas Mountain region was under French control, and France began to expand into the interior. Algeria's borders were established in the context of the scramble for Africa in the 1890s. A bitter guerilla war for independence began on November 1, 1954, and Algeria gained its independence from France on July 3, 1962.
Under the Ottoman Empire, the Asper was both the Unit of Account (DZA) and the primary form of specie money (DZS), though Portuguese and Spanish coins also circulated. The Asper was the lowest denomination coin. The Muzuna (29 Aspers), Saime/Double (50 Aspers) and Pataca (232 Aspers) were used as units of account. The Kharub (14 Aspers), Muzuna (29 Aspers), Pataca Gourda (696 Aspers), Sequin (1972 Aspers) and Zecchino (2320 Aspers) were used for coins. Before the French annexed Algeria, the Budju (DZB) had been issued as a local coin and was divisible into 24 Muzunas. No banknotes were issued before France occupied Algeria.
The French Franc became legal tender in Algeria in 1830. The Banque de l'Algerie was established on November 1, 1851 and had the monopoly right of issue of banknotes in Algeria. The French introduced the French Franc Germinal, allowing both French Francs (FRG) and banknotes issued by the Banque de l’Algerie (DZG) to circulate. The Franc was divisible into 100 Centimes. Most coins were French, but a few coins were struck for Algeria after the war.
Algeria went off the Gold Standard on June 30, 1937 and introduced exchange controls on September 10, 1939. On July 2, 1959, French and Algerian Francs were made legal tender in both countries. The Franc Nouveaux (FRF) replaced the Franc Germinal on January 1, 1960. The Banque de l'Algerie became the Banque de l'Algerie et de la Tunisie on January 12, 1949, issuing banknotes for both Algeria and Tunisia. When Tunisia gained its own central bank, the Banque de l'Algerie was reborn on November 3, 1958. Initially, the Banque Centrale d'Algerie, established on January 1, 1963, issued its own Algerian Franc (DZF), but this was replaced with the Algerian Dinar (DZD) on April 1, 1964. The Dinar is divisible into 100 Centimes.
Banknotes were issued by the Banque de l'Algerie beginning in 1852. The Banque de l'Algerie was the bank of issue under the French, the Vichy government and the Allies. The Banque de l'Algerie et de Tunisie took over the right to issue banknotes between 1940 and 1958. The Banque de l'Algerie issued banknotes between 1946 and 1964, and the Banque Centrale d’Algerie has issued banknotes since Algeria gained its independence. |
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