Moroccan Dirham Strengthens Against Euro and Dollar, Reserves Hold Steady
During the week of July 11 to 17, 2019, the Moroccan dirham gained value against the European currency as well as against the US dollar.
According to data published by Bank Al-Maghrib (BAM), the Moroccan currency appreciated by 0.11% against the euro and 0.14% against the dollar.
During this period, net international reserves amounted to 232.9 billion dirhams (MMDH), almost unchanged from the previous week but up 3% year-on-year, BAM said.
During the same week, no auction operation was carried out on the foreign exchange market, according to the note on the weekly indicators of the Moroccan economy.
Note that on Friday, July 19, 2019, one US dollar was worth 9.587 dirhams, while one euro was worth 10.771 dirhams.
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