The dirham declines: 1,000 euros now yield 39 more dirhams

According to the latest weekly indicators from Bank Al-Maghrib, the dirham depreciated by 0.2% against the euro and by 0.9% against the US dollar over the week.

In detail, the euro’s reference rate rose from 10.776 dirhams on August 27 to 10.815 dirhams on September 2. For reference, 1,000 euros therefore represented 10,776 dirhams at the start of the period, compared with 10,815 dirhams at the end, or 39 more dirhams. For 5,000 euros, the difference comes to approximately 195 dirhams. The amount actually received naturally depends on the rate and fees charged by the bank or exchange office.

The dollar changed more significantly, rising from 9.252 to 9.340 dirhams. Bank Al-Maghrib specifies that no auction operation was carried out on the foreign exchange market during the period.

On Bladi.net : The dirham strengthens against the euro

This development extends a turbulent period for the Moroccan currency, which had already declined against the euro in mid-August.

Reserves still exceed 500 billion

Morocco’s official reserve assets stood at 500.1 billion dirhams on August 28, up 0.2% in one week and, above all, 21.8% year on year. At the end of July, they represented the equivalent of five months and 27 days of imports of goods and services.

Foreign-currency inflows continue to be supported in particular by Moroccans living abroad. During the first seven months of 2026, MRE transfers reached 74.8 billion dirhams, up 8.1%. Travel receipts, meanwhile, rose by 13.4% to 79 billion dirhams.

At the same time, the trade deficit widened sharply: +26.5% to 244.7 billion dirhams, with imports increasing much faster (+15.9%) than exports (+8.4%).