The exchange rate of the euro fell against the Moroccan currency, while the dollar rose against the dirham in trading today, Friday, March 5, 2021, according to Bank Al-Maghrib.
The price of the European euro in Morocco, during the beginning of trading today, Friday, with the Central Bank of Morocco was about 10.36 dirhams for buying and 12.04 dirhams for sale, compared to 10.38 dirhams for buying and 12.06 dirhams for sale on Thursday.
While the price of the US dollar rose in Morocco at the beginning of today’s trading, at 8.60 dirhams for purchase and 9.99 dirhams for sale, compared to 8.58 dirhams for purchase and 9.97 dirhams for sale in yesterday’s trading.
The purchase price of the pound sterling settled at 12 dirhams, while the selling price rose to 13.95 dirhams, compared to 13.94 dirhams for sale yesterday.
Real and dinar prices
The price of the Saudi riyal rose in Morocco, during early trading on Friday morning, on the Maghreb Central Bank trading screens, reaching 2.29 dirhams for purchase and 2.66 dirhams for sale, compared to 2.28 dirhams for purchase and 2.65 dirhams for sale yesterday.
The price of the Kuwaiti dinar in Morocco, when opening Friday transactions, was 28.43 dirhams for purchase and 33.04 dirhams for sale, compared to 28.36 dirhams for purchase and 32.96 dirhams for sale at the close of trading on Thursday.
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.
And Moroccan workers’ remittances abroad increased in 2020, by 5%, to reach 67.99 billion dirhams, compared to 64.77 billion dirhams in 2019.
The High Planning Commission of Morocco 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 approximately $ 33 billion, which covers more than 7 months of imports of goods and services.