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FinancialNews


  • 06-08-18

    Morocco posts USD22.59bn in net int'l reserves

    (MENAFN) Morocco's Central Bank unveiled a 10.9 percent year-on-year boost in the net international reserves of the country, hitting USD22.59 billion in July.

    However the results have declined from USD24.51 billion recorded in mid-January, when Morocco reached a resolution to introduce a further flexible exchange rate.

    The dirham was also shown to have pegged to a two-currency basket weighted 60 percent to the euro and 40 percent to the dollar.

    The Moroccan dirham faintly appreciated by 0.06 percent against the euro, maintaining stability against the US dollar July 26-August 1, as found in the central bank's weekly statistics.

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