The dirham continues to lose ground against the euro. In three weeks, the equivalent value of 1,000 euros has increased by 131 dirhams, according to Bank Al-Maghrib’s reference exchange rates.
The Moroccan dirham has once again lost ground against the euro. In one week, 1,000 euros are worth approximately 75 more dirhams based on Bank Al-Maghrib’s reference exchange rates.
The dirham lost ground against the euro and the dollar between August 27 and September 2. For MRE exchanging euros, the movement is slightly favorable: based on reference rates, 1,000 euros are worth approximately 39 more dirhams.
The euro is rising again against the Moroccan dirham. This is favorable for Moroccans living abroad who exchange or transfer euros to Morocco, following the opposite movement observed the previous week.
The Moroccan dirham gained ground this week against the two main currencies used by MREs. It appreciated by 0.2% against the euro and by 0.1% against the dollar between 6 and 12 August, according to the latest weekly indicators from Bank Al-Maghrib.
The Moroccan dirham slightly lost value against the euro over the past week, while it strengthened significantly against the dollar, according to the latest weekly indicators from Bank Al-Maghrib.
The euro continues to lose ground against the dirham , at a time when many MREs are staying in Morocco. The decline remains limited, but it gradually reduces the amount obtained during an exchange or transfer from abroad.
Exchanging euros for cash upon arrival in Morocco is not always the most advantageous choice. Recent payments made in dirhams with a foreign card show a difference that can exceed 170 dirhams per 1,000 euros compared to the buying rate displayed by a Moroccan bank.
The euro has slightly declined against the Moroccan dirham during the peak summer return period. The movement remains limited, but it is somewhat less favorable for MREs who exchange or transfer euros to Morocco.
Changing foreign currency in Morocco is entering a new phase. The Office of Exchange has launched SARF, a platform designed to digitalize and secure currency exchange operations, with a stated objective: greater traceability and less reliance on cash.
The euro has slightly gained against the Moroccan dirham as the major summer returns approach. The movement remains limited, but it works in favor of Moroccans abroad who exchange or transfer money to Morocco .
The dirham strengthened against the euro over the past week, according to the latest figures published by Bank Al-Maghrib.