Moroccan Dirham Sees Mixed Performance Against Major Currencies

The Moroccan dirham has seen a mixed performance against major currencies in recent months. According to Bank Al-Maghrib's monthly economic, monetary and financial review, the dirham appreciated 0.1% against the euro between June and July. However, it weakened by 0.7% against the US dollar over the same period.

The central bank noted that the euro itself lost 0.8% against the dollar during this time frame. This suggests that the dirham's relative performance was influenced by broader currency market trends.

Currency trading activity in Morocco has also increased, with foreign-exchange transactions reaching MAD 32.7 billion in June - a 13.4% year-over-year rise.