Euro tops 11 dirhams as 1,000 euros now fetch 11,162 dirhams
The dirham is falling faster against the euro. In six weeks, the value of 1,000 euros has risen by 386 dirhams, including 164 in the past week alone, according to Bank Al-Maghrib reference rates.
The euro has crossed the 11-dirham threshold and continues to rise. Between October 1 and 7, 2026, the dirham depreciated by 1.47% against the European currency, according to the latest bulletin from Bank Al-Maghrib. The decline was even steeper against the US dollar, at 2.95%.
On Bladi.net : Dirham Falls for Fifth Straight Week, Adding 222 Dirhams to the Cost of €1,000
The euro’s reference rate rose from 10.998 dirhams on September 30 to 11.162 dirhams on October 7. That means 1,000 euros now amount to 11,162 dirhams, compared with 10,998 a week earlier—a difference of 164 dirhams. For a transfer of 5,000 euros, the difference rises to 820 dirhams.
The European currency even reached 11.217 dirhams on October 6 before edging down slightly the following day. At that level, 1,000 euros amounted to 11,217 dirhams at the reference rate.
386 dirhams more in six weeks
The trend takes on another dimension when looking back to late August. On August 27, one euro was still worth 10.776 dirhams. It rose to 10.890 on September 9, 10.945 on September 23, and then 10.998 on September 30.
In six weeks, the value of 1,000 euros thus rose from 10,776 to 11,162 dirhams, an increase of 386 dirhams. The previous week, the cumulative gain was only 222 dirhams. For 5,000 euros, the difference since August 27 now amounts to 1,930 dirhams.
The dollar is following a similar trajectory. Its reference rate rose from 9.682 dirhams on September 30 to 9.977 dirhams on October 7, nearing the 10-dirham threshold. For 1,000 dollars, the difference is 295 dirhams in one week.
On Bladi.net : Dollar Nears 10 Dirhams, Adding 379 Dirhams to the Value of $1,000 in 10 Days
This trend directly affects Moroccans living abroad who convert euros into dirhams, but it also makes euro-denominated purchases from Morocco more expensive in the opposite direction. The amounts calculated here are based on Bank Al-Maghrib reference rates: the rates charged by banks, currency exchange offices and transfer services, as well as their fees, may change the amount actually received.
Meanwhile, Morocco’s official foreign exchange reserves reached 515.7 billion dirhams on October 2, up 1.8% in one week and 23% year on year.
