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  • 22-12-19

    Morocco: foreign exchange profits grow to USD25.89 billion

    (MENAFN) According to a periodical report by Morocco's central bank, Morocco's foreign exchange profits grew to USD25.89 billion by December 13, with a rise of 7.1 percent yearly.


    The report said that, from December 12 to 18, the central bank added USD6.5 billion in the financial market and in the same period, the local currency dirham appreciated by 0.36 percent against the USD and decreased in value by 0.11 percent against the euro.


    Morocco began the steady floating of its currency by increasing the official band of dirham's fluctuation to 2.5 percent above or below the official rate from the previous 0.3 percent, in January 2018.


    The dirham is pegged to a two-currency basket weighted 60 percent to the euro and 40 percent to the USD.

    MENAFN2212201900450000ID1099459082

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