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FinancialNews


  • 07-04-19

    Morocco hits USD22b in foreign reserves

    (MENAFN) Morocco registered a 1.8 percent decline in its net foreign reserves for March 2019, a shrink that amounted for USD22 billion.

    Foreign reserves in Morocco recorded a 1.4 percent fall from data seen late 2018, as revealed the Central Bank.

    Gradual floating of the Moroccan currency, the dirham, was launched in January last year to see a boost in the official band of its fluctuation to 2.5 percent.

    Authorities then received an appeal from the International Monetary Fund (IMF) to activate upcoming measures in gradual floating.

    MENAFN0704201900450000ID1098355202

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