The Algerian Dinar (DZD) is the official currency of Algeria. It was introduced in 1964, replacing the previous currency, the Algerian franc. The dinar is subdivided into 100 centimes, although centime coins are rarely used in everyday transactions. The currency is issued by the Bank of Algeria, which regulates its value and circulation. The exchange rate of the dinar can fluctuate based on economic conditions, including oil prices, as Algeria is a major oil producer. The symbol for the dinar is د.ج, and it is commonly used in both cash and electronic transactions.