Moroccan Dirham depreciates by 3.7% against USD between September & October 2026

The Moroccan dirham depreciated by 3.7% against the US dollar and by 1.2% against the euro between September and October 2026, according to Bank Al-Maghrib (BAM).

“The national currency depreciated by 3.7% against the US dollar”, the Central Bank said in its latest Monthly Review of the Economic, Monetary and Financial Situation, noting that the euro depreciated by 2.6% against the US dollar.

In August 2026, the volume of foreign exchange transactions against the dirham on the interbank market increased by 88.1% compared to the same month of the previous year, reaching 29.6 billion dirhams (MAD).

As regards transactions between banks and their customers, customers’ spot purchases amounted to MAD 33.9 billion in August, compared to MAD 32.2 billion a year earlier, while forward purchases totaled MAD 18.6 billion, up from MAD 14.9 billion.

Meanwhile, sales amounted to MAD 36.3 billion, compared to MAD 30.7 billion for spot transactions, and MAD 2.3 billion, up from MAD 1.4 billion, for forward transactions.

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