Bank Al-Maghrib: International Reserves Rise by 2.5%

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International Morocco

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.

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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.

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