Morocco’s central bank has revealed today that Morocco’s 2019 net International Reserves have increased by 2.5% in comparison with last year.
Morocco’s international reserves between January and August 2019 saw a rise of 2.5% compared with the same period in 2018. According to Bank Al-Maghrib, Morocco’s international reserves have reached MAD 232 billion (around USD 24 billion) in this period.
The source states in a communiqué released today (September 2nd) that in the week of August 22 alone, Morocco’s central bank injected 98.5 billion dirhams (USD 10.1 billion). It adds that the interbank rate amounted to 2.28%.
As for the Dirham value against that of the US dollar and the Euro, the Moroccan currency saw an appreciation of 0.10% against the first and 0.23% against the second compared with the same period in 2018.
Ezzoubeir Jabrane is a writer, teacher and entrepreneur. He holds a Master’s Degree in Linguistic and Literary Studies. He has written a number of journalistic, analytical and academic articles in different fields. He’s worked as a teacher of Academic English at Hassan II University in Casablanca and a teacher of English for Engineering in the National Higher School of Arts and Craft (ENSAM), in addition to a number of other private institutions. Ezzoubeir is the founder of Exchange Lab and a founding member of International Morocco. His company Exchange Lab offers 3 services revolving around the use of English in the workplace: Business English & Language instruction, translation services, and content and multimedia content creation.