The Moroccan Dirham (MAD) rose by 1.3% against the U.S. Dollar (USD) between the months of June and July 2025, according to a recent report by Morocco’s Central Bank, Bank Al-Maghrib (BAM).
These developments come at a time when the euro has gained 1.5% on the USD, according to BAM, which said that no currency auctions have been held since December 2021.
On the inter-bank market, the volume of currency trading against the dirham reached MAD 23.1 billion in July 2025, down 48.2% compared to the same period a year earlier.
As for banks’ transactions with their customers, the volume in July amounted to MAD 41.4 billion for spot purchases and MAD 23.3 billion for forward purchases, compared to MAD 37.7 billion and MAD 17.9 billion, respectively, a year earlier.
Sales amounted to MAD 41.2 billion for spot purchases, up from MAD 36.9 billion, and MAD 2.2 billion for forward purchases, compared to MAD 1.9 billion a year earlier.
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