Currency rates in Morocco today, Thursday, February 25, 2021

0
21


The exchange rates of most foreign currencies rose against the Moroccan dirham, in today’s trading, Thursday, February 25, 2021, according to the Central Bank of Morocco.

The euro settled on the trading screens of the Central Bank of Morocco at 10.40 dirhams for purchase, and 12.09 for sale, which is the same price at the close of trading yesterday.

The exchange rate of the dollar rose, recording 8.56 dirhams for purchase, 9.94 dirhams for sale, compared to 8.54 dirhams for purchase, and 9.93 dirhams for sale on Wednesday.

The exchange rate of the pound sterling increased by 12.13 dirhams for purchase, and 14.09 dirhams for sale, compared to 12.02 dirhams for purchase, and 13.97 dirhams for sale, at the close of trading yesterday.

A shrinking trade deficit

The trade deficit in Morocco shrank over the past year, compared to the figures recorded in 2019.

The Moroccan Exchange Office said that the trade deficit shrank by 23.1% to 158.6 billion dirhams ($ 17.6 billion) in 2020.

Remittances from Moroccan workers abroad increased in 2020, by 5%, to reach 67.99 billion dirhams, compared to 64.77 billion dirhams in 2019.

According to the Moroccan Central Bank, Morocco’s foreign exchange reserves are sufficient to cover 7 months of imports.

Morocco’s High Planning Commission expects the country’s GDP to grow by 0.5% on an annual basis, during the first quarter of 2021.

Morocco has a foreign exchange stock of about $ 33 billion, which covers more than 7 months of imports of goods and services.

Real, dirham, and dinar prices

The exchange rate of the Saudi riyal in the Moroccan central bank rose to 2.28 dirhams for purchase, 2.65 dirhams for sale, compared to 2.27 dirhams for purchase, and 2.64 dirhams for sale at the close of trading Wednesday.

The exchange rate of the Emirati dirham at the Moroccan Central Bank rose to 2.33 dirhams for purchase, 2.71 dirhams for sale, compared to 2.32 dirhams for purchase, and 2.70 dirhams for sale at the close of trading yesterday.

The Kuwaiti dinar exchange rate increased to 28.28 dirhams for purchase, 32.87 dirhams for sale, compared to 28.26 dirhams for purchase, and 32.84 dirhams for sale, yesterday.





LEAVE A REPLY

Please enter your comment!
Please enter your name here