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Comparative analysis of regulations 16-02 and 24-05: developments and impact.

In Algeria, changes to foreign exchange regulations relating to the declaration of imports and exports of banknotes and negotiable instruments denominated in freely convertible foreign currencies by residents and non-residents are a key factor in controlling currency flows.

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Regulation No. 24-05, issued by the Bank of Algeria in October 2024, updates Regulation No. 16-02 (2016), which governs cross-border currency movements. Travellers, both residents and non-residents, can now export up to €7,500 per calendar year (previously per trip) from a foreign currency account or via an exchange authorisation. The use of international bank cards to export foreign currency is also permitted. These changes aimed at improving financial supervision, preventing illicit practices and ensuring Algeria's economic stability, while aligning with international standards.