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FinancialNews


  • 06-08-19

    Morocco exceeds USD25.05b in net forex reserves

    (MENAFN) Morocco's central bank revealed that the country witnessed a 2.2 percent boost in its net foreign exchange reserves by July 26, 2019, standing at more than USD25.05 billion.

    In a report, the central bank showed that the Moroccan dirham depreciated by 0.01 percent against the euro and by 0.03 percent against the U.S. dollar.

    According to the report, Morocco managed last year mid January to launch gradual currency floating through hikes on the official band of dirham's fluctuation.

    The country's currency is pegged to a two-currency basket weighted 60 percent to the euro as well as 40 percent to the U.S. dollar.

    MENAFN0608201900450000ID1098850267

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