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.
A new scheme is expected to enable 4,000 beneficiaries of transfers sent by MREs to access credit more easily. Their history of receiving money will be incorporated into an assessment method developed by Damane Cash and Salafin.
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 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.
Moroccans residing abroad have never contributed so much to the Moroccan economy. Their transfers are continuing to accelerate in 2026. But this strength also creates a vulnerability: a large share of this money comes from Europe, where new banking rules are now forcing Rabat to negotiate in order to preserve these flows.
Moroccans residing abroad transferred 61.5 billion dirhams to Morocco in the first half of 2026. Over the same period, the country’s energy bill reached 68.6 billion. A gap that did not yet exist a year earlier.
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.
Moroccans living abroad hold 222.8 billion dirhams in the Kingdom’s banks. Yet, of nearly 40 million bank accounts, only 0.3% are directly denominated in euros, dollars or other foreign currencies.
In Moroccan families receiving money from abroad, remittances per working-age adult reach an amount comparable to the SMIG. The support has become significant enough to influence the professional choices of some households.
The dirham edged lower against the euro while remaining virtually stable against the dollar, according to the latest weekly indicators from Bank Al-Maghrib.
Tourism revenues surpassed transfers from Moroccans residing abroad during the first half of 2026. The gap, almost nonexistent one year earlier, has now reached 3.4 billion dirhams.
Transfers received into a Moroccan account can be examined by the tax administration when their amount or frequency do not match the income declared by the account holder. However, MRE transfers are not automatically taxed.