Morocco's forex reserves increase to 25.89 bln USD
Morocco's trade holds expanded to 25.89 billion U.S. dollars by Dec. 13, with an expansion of 7.1 percent year-on-year, Morocco's national bank said Saturday in its periodical report.
From Dec. 12 to 18, the national bank infused 6.5 billion U.S dollars in the money related market, it said including that in a similar period, the neighborhood cash dirham increased in value by 0.36 percent against the U.S dollar and devalued by 0.11 percent against the euro.
In January 2018, Morocco began the progressive gliding of its cash by raising the official band of dirham's variance to 2.5 percent above or underneath the official rate from the past 0.3 percent.
The dirham is pegged to a two-money bin weighted 60 percent to the euro and 40 percent to the U.S. dollar.