The BdA will continue to operate a managed float of the Algerian dinar, the aim of which is to maintain exchange-rate stability, particularly with the US dollar and the euro. A weaker euro:dollar rate in the forecast period will mean that the dinar will gain ground on the single currency, appreciating from an average of AD91.04:EUR1 in 2011 to AD81.46:EUR1 in 2015. However, the BdA may intervene to weaken the currency to limit imports of European goods and favour local producers. The dinar will weaken slightly against the dollar in 2011, averaging AD76.50:US$1 before appreciating to AD71.81:US$1 in 2012. Over the forecast period, the dinar will appreciate less rapidly against the dollar than it will against the euro. The central bank retains substantial foreign reserves to be able to maintain or lower the value of the dinar as it deems necessary.