The Bank of Algeria was established on December 13, 1962, succeeding the Banque de l'Algerie, the colonial central bank of French Algeria, following the country's independence. Headquartered in Algiers, it sets the conditions under which banks and financial institutions may operate in Algeria and abroad, regulates monetary policy, and manages the Algerian dinar, holding foreign exchange reserves of approximately 64.63 billion US dollars as of 2023.
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