The Moroccan dirham appreciated 0.1% against the euro between June and July but weakened 0.7% against the U.S. dollar, Bank Al-Maghrib said in its monthly economic, monetary and financial review published Aug. 13.
The movement came as the euro itself lost 0.8% against the dollar over the same period, according to the central bank.
Foreign-exchange activity also increased. Currency trading against the dirham on Morocco’s interbank market reached MAD 32.7 billion in June, up 13.4% from a year earlier.
Spot currency purchases by bank customers rose to MAD 46.8 billion from MAD 35.3 billion in June 2025, while forward purchases increased to MAD 16.8 billion from MAD 16 billion.
Spot sales reached MAD 36.5 billion, broadly unchanged year on year, while forward sales fell to MAD 3 billion from MAD 3.7 billion.
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