Algeria's Dinar Strengthens Against the Euro
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The dinar is the money used in Algeria. It is traded on a special market. This market is called the interbank market. Banks buy and sell money there.
The dinar is getting stronger against the euro. The euro is the money used in many European countries. This means people need less dinars to buy one euro now.
But the dinar is getting weaker against the US dollar. The dollar is the money used in the United States. People need more dinars to buy one dollar.
There is also a problem. The official rate is the price set by the government. There is another rate called the Square rate. This is an informal, unofficial rate.
The gap between these two rates is still big. This gap has not gone away. It shows a difference in how the dinar is valued.
Experts are watching these changes. Many people care about the price of money. It affects buying and selling in Algeria.
Vocabulary15 words
- dinar
- the money used in Algeria
- interbank market
- a place where banks trade money
- euro
- the money used in many European countries
- US dollar
- the money used in the United States
- official rate
- the price set by the government
- Square rate
- an unofficial, informal money price
- currency
- the money used in a country
- exchange rate
- how much one money is worth in another money
- informal market
- buying and selling that is not controlled by the government
- strengthen
- to become stronger
- weaken
- to become weaker
- gap
- a space or difference between two things
- value
- how much something is worth
- trade
- to buy and sell
- bank
- a place that keeps and manages money
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Quiz
Answer key
1. It is getting stronger 2. It is getting weaker 3. False
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The _____ is the money used in Algeria. It is traded on a special market. This market is called the _____.
The dinar is getting stronger against the _____. This means people need less dinars to buy one euro now.
But the dinar is getting weaker against the _____. People need more dinars to buy one dollar.
There is also a problem. The _____ is the price set by the government. There is another rate called the _____ rate.
The gap between these two rates is still big. This gap has not gone away.
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