Euro Rebounds Against Moroccan Dirham After Three-Week Slide

The trend has reversed after three weeks of gains for the dirham. According to the latest weekly indicators from Bank Al-Maghrib, the Moroccan currency depreciated by 0.2% against the euro between October 29 and November 4, 2026. The European currency’s reference rate rose from 10.966 dirhams on October 28 to 10.988 dirhams on November 4.

On Bladi.net : Dirham gains ground against euro, cutting value of €1,000 transfer by 196 dirhams in three weeks

For 1,000 euros, the equivalent is now 10,988 dirhams, up from 10,966 a week earlier—a difference of 22 dirhams. The euro briefly crossed the 11-dirham threshold on November 2, reaching 11.004 dirhams, before falling back to 10.990 the next day and then 10.988 on Wednesday.

The rebound slightly reduces the losses accumulated since October 7. On that date, the euro was still worth 11.162 dirhams. For 1,000 euros, the difference from that level is still 174 dirhams, compared with 196 dirhams a week earlier.

Dollar loses 90 dirhams per 1,000 dollars

Against the US dollar, the trend is the opposite. The dirham appreciated by 0.9% over the week. The greenback’s reference rate fell from 9.856 dirhams on October 28 to 9.766 dirhams on November 4. For 1,000 dollars, that represents a decrease of 90 dirhams.

Morocco’s official foreign exchange reserves stood at 514.8 billion dirhams on October 30, unchanged over the week and up 19.4% year on year. At the end of October, they represented the equivalent of five months and 29 days of imports of goods and services.

On Bladi.net : Moroccan Dirham Rebounds, Cutting the Value of €1,000 by 153 Dirhams in a Week

For Moroccans living abroad who send euros to Morocco, this week’s rebound represents a gain of 110 dirhams on a transfer of 5,000 euros, calculated using Bank Al-Maghrib’s reference rates. The amount actually received depends on the conversion rate and fees charged by the bank or transfer service.