Source: Xinhua| 2019-11-20 03:03:44|
Editor: yan
Morocco’s foreign exchange reserves increased to 25.41 billion U.S. dollars by Nov. 8, the country’s central bank said Tuesday.
It increased by 3.3 percent compared to the same period in 2018, according to the bank’s periodical report.
From Nov. 7 to Nov. 11, the local currency dirham appreciated by 0.45 percent against the U.S. dollar and depreciated by 0.25 percent against the euro.
In January 2018, Morocco started the gradual floating of its currency by raising the official band of dirham’s fluctuation to 2.5 percent above or below the official rate from the previous 0.3 percent.
The dirham is pegged to a two-currency basket weighted 60 percent to the euro and 40 percent to the U.S. dollar.
