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FinancialNews


  • 03-07-19

    Morocco hits USD24.52b in net forex reserves

    (MENAFN) Morocco registered a 2.2 percent boost in its net foreign exchange reserves until June 21, standing at USD24.52 billion.

    In a report, the Moroccan central bank revealed that the dirham depreciated by 1.2 percent against the euro, and by 0.22 percent against the U.S. dollar.

    Reserves in Morocco, the central bank unveiled based on its data, recorded a 1.2 percent decline during the fourth month of this year.

    It comes as the country implemented in January last year a plan to slowly float its currency through increasing the official band of dirham's fluctuation to reach 2.5 percent above or below the official rate.

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