Currency rates in Morocco today, Sunday, August 29, 2021

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Foreign exchange rates stabilized against the Moroccan dirham, at the beginning of trading today, Sunday, August 29, 2021, in banks.

The euro exchange rate remained at 10.27 dirhams for purchase, and 11.94 dirhams for sale, according to the official website of the Central Bank of Morocco.

While the sterling pound settled at 11.98 dirhams for purchase, and 13.92 dirhams for sale.

The price of the dollar settled at 8.73 dirhams for purchase, and 10.15 dirhams for sale.

The Moroccan High Commission for Planning said that the consumer price index rose 2.2% on an annual basis last July.

Inflation of non-food items increased by 1.8 percent, while food prices increased by 2.8 percent. On a monthly basis, the consumer price index rose 0.4%.

The core CPI, which strips out volatile commodity prices, rose 0.4% m/m and 1.7% y/y.

The prices of the riyal, dirham and dinar in Morocco

The price of the Saudi riyal settled at 2.32 dirhams for purchase, and 2.70 dirhams for sale.

The price of the UAE dirham was 2.37 dirhams for purchase, and 2.76 dirhams for sale.

On the other hand, the Kuwaiti dinar rose to 29.02 dirhams for purchase, and 33.72 dirhams for sale.

And last June, Bank Al-Maghrib expected that the Kingdom’s economy would grow this year by 5.3%, “driven by an increase in the added value of non-agricultural activities by 3.6% and an increase in the added value of the agricultural sector by 17.6%.”

He also expected growth to reach 3.3 percent in 2022, “with the continued improvement of the pace of non-agricultural activities to 3.8 percent and the decline in the agricultural value added by 2%.”

The bank attributed this to the “largely favorable climatic conditions that characterize the current agricultural season”, which led to an increase in cereal production to 9.8 million tons.

The bank considered that “the signs of recovery are clear in the labor market, with a significant decline in the net number of lost labor market positions annually to 202 thousand in the first (three) quarter of 2021, instead of 451,000 in the previous three.”

Morocco is moving at a confident pace towards improving the country’s economic conditions in light of the Corona crisis, which has affected the global economy.





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