Morocco’s central bank said the dirham appreciated 1.3 percent against the U.S. dollar and slipped 0.2 percent against the euro between June and July 2025, reflecting the euro’s 1.5 percent gain versus the dollar.
In its monthly bulletin on the economy, monetary and financial conditions, Bank Al-Maghrib noted that interbank foreign exchange transactions totaled 23.1 billion dirhams in July, down sharply by 48.2 percent from a year earlier.
At the level of commercial banking, purchases of foreign currencies reached 41.4 billion dirhams for spot operations and 23.3 billion dirhams for forward operations, compared with 37.7 billion and 17.9 billion dirhams, respectively, a year ago.
Sales reached 41.2 billion dirhams in spot deals and 2.2 billion dirhams in forwards, up from 36.9 billion and 1.9 billion dirhams a year earlier.
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