Moroccan Dirham Holds Steady Against Euro, Dips Slightly vs Dollar
The Moroccan currency remained stable during the week of October 25 to 29, losing nearly 0.1% against the dollar and appreciating 0.09% against the euro. This is what BMCE Capital Global Research (BKGR) specifies.
In its new publication "Weekly Derivatives Letter", BKGR indicates that the banks’ foreign exchange position has regained a more comfortable situation at 1,514 million dirhams (MDH) after being set at -354 MDH the previous week.
The publication also looked at the international situation. During this week, the ECB held a meeting at which it was decided to keep the European monetary policy unchanged, while keeping its interest rates at their current level. Investors expected such a decision to be made in these times of Covid-19. They rather focused on the interpretation given by the ECB to the inflationary pressures observed for several months.
