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  • 13-01-19

    Morocco down to USD24.2b in net foreign reserves

    (MENAFN) Morocco recorded a 4.9 percent decline in its net foreign reserves by last year's end, reaching USD24.2 billion compared to the previous year.

    It comes after Morocco reached an agreement in January to take on an eased exchange rate as it increased the official band of the fluctuation of its dirham to stand at 2.5 percent.

    The official band of the dirham's fluctuation could be below of above 0.3 percent, the official exchange rate.

    Morocco's dirham is attached to a two-currency basket weighted 60 percent to the euro and 40 percent to the dollar.

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