Source: Xinhua
Editor: yan
Morocco’s foreign exchange reserves increased to 25.09 billion U.S. dollars by Oct. 11, the country’s central bank said Tuesday.
From Sept. 22 to Oct. 11, the local currency dirham remained stable against the euro, while appreciating by 0.43 percent against the U.S. dollar, according to preliminary data published on the bank’s website.
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.
