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FinancialNews


  • 27-01-19

    Morocco forecast for biggest fluctuation band for dirham: IMF

    (MENAFN) Morocco is expected to see bigger fluctuation band for its national currency the dirham, as the country fights to enhance its economic status.

    The forecast was unveiled by the International Monetary Fund (IMF), citing Central Bank Governor Abdellatif Jouahri and Finance Minister Mohamed Benchaaboun.

    According to an IMF report, Morocco widened the band in January last year to push its dirham to trade at 2.5 percent against hard currencies.

    Through the move, Morocco was aiming to boost competitiveness in its exports along with shielding its foreign exchange reserves.

    In the report, the official stated: "the authorities intend to move to the next phase of this reform for preventative purposes as soon as economic conditions allow them to do so."

    MENAFN2701201900450000ID1098029289

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