Xinhuanet
Xinhua
Morocco’s net international reserves amounted to 22.46 billion U.S. dollars by the end of September, a year-on-year increase of 0.5 percent, Morocco’s Central Bank said Saturday.
Morocco’s foreign reserves were down 0.5 percent compared with the end of August, according to the Central Bank’s statistics.
They also remain less than 24.51 billion dollars in mid-January, when the country decided to adopt a more flexible exchange rate to its local currency dirham.
The dirham is pegged to a two-currency basket weighted 60 percent to the euro and 40 percent to the dollar.
The authorities said widening the dirham trading band is part of a broader plan to float the currency and make the economy more resilient against external shocks and help along its growth.
