The dirham falls for a fourth consecutive week: €1,000 now fetches 169 more dirhams
The dirham continues to lose ground against the euro. In four weeks, the dirham equivalent of €1,000 has risen by 169 dirhams, based on Bank Al-Maghrib’s reference rates.
Between September 17 and 23, the dirham depreciated by 0.3% against the euro, according to the latest weekly indicators from Bank Al-Maghrib. The decline was even steeper against the US dollar, falling by 1.5% over the same period.
The euro’s reference rate stood at 10.945 dirhams on September 23, compared with 10.907 dirhams on September 16. By way of illustration, €1,000 therefore corresponds to 10,945 dirhams, compared with 10,907 dirhams a week earlier, an increase of 38 dirhams.
On Bladi.net : The dirham falls for the third consecutive week: 1,000 euros now bring in 131 more dirhams
The movement was more pronounced against the dollar. Its reference rate rose from 9.496 dirhams on September 17 to 9.591 dirhams on September 23. Bank Al-Maghrib specified that no auction transactions were carried out on the foreign exchange market during the period.
169 more dirhams in four weeks
The trend against the euro has now lasted four weeks. On August 27, one euro was worth 10.776 dirhams. It then rose to 10.815 dirhams on September 2, 10.890 dirhams on September 9, 10.907 dirhams on September 16, and 10.945 dirhams on September 23.
On Bladi.net : The dirham falls again: 1,000 euros now bring in 75 more dirhams
For €1,000, the equivalent value thus rose from 10,776 to 10,945 dirhams in four weeks, an increase of 169 dirhams. For €5,000, the difference comes to about 845 dirhams. Last week, the cumulative increase was still 131 dirhams.
