The dirham falls against the euro
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.
Between July 30 and August 5, 2026, the dirham depreciated by 0.6% against the euro. The reference exchange rate for the European currency rose from 10.681 dirhams on July 29 to 10.743 dirhams on August 5, after reaching 10.741 dirhams on August 3.
On Bladi.net : Moroccan Dirham Falls Against Euro as Exchange Rates Shift
Against the dollar, the trend was the opposite. The dirham appreciated by 0.8% over the week. The greenback thus fell from 9.377 dirhams on July 29 to 9.300 dirhams on August 5. No auction operation was carried out on the foreign exchange market during this period.
This development comes as Morocco’s foreign exchange reserves remain at a high level. As of July 31, official reserve assets reached 498 billion dirhams, up 0.2% over one week and 22.7% over one year. They now represent approximately five months and 27 days of imports of goods and services.
On Bladi.net : Moroccan dirham weakens euro exchange rate June 2026
The external context nevertheless remains marked by a sharp widening of the trade deficit. During the first six months of 2026, it increased by 23.5% to reach 198.4 billion dirhams. Travel receipts meanwhile rose by 15.9%, to 64.9 billion dirhams, while transfers from MREs increased by 9.9%, to 61.5 billion dirhams.
