Revenue Regulation FundRRFAlgeria |
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The Revenue Regulation Fund (RRF, Fonds de Régulation des Recettes in Frech) in Algeria is a Sovereign Wealth Fund established in 2000 to reduce the impact of price volatility in oil & gas prices. Fund contributions come from taxation of exports of natural gas and petroleum, representing a third of GDP and two-thirds of government income. The size of RRF's portfolio is of $56.7 billions in 2010, making RRF the second biggest fund in North Africa, behind the Libyan Investment Authority, but very far from the major funds, like the Abu Dhabi Investment Authority.
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The currency of Algeria is the dinar; subdivided into 100 santeem, it has the ISO 4217 code DZD. The name of the Dinar is derived from the Roman denarius, survived through the Roman Empire due to its usage in trade. The coins are minted by the Bank of Algeria.
The dinar replaced the Algerian new franc at par in 1964. Coins of 5 dinar and higher are the ones in general circulation as santeem and fractional dinar coins have dropped out of general circulation due to the massive inflation during the transition to a capitalist economy during the late 1990s.
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