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Rabat — The Moroccan dirham recorded contrasting developments between June and July 2025, in line with the most recent month-to-month evaluation of financial, financial, and monetary developments by Financial institution Al-Maghrib (BAM).
Throughout this era, the dirham strengthened by 1.3% in opposition to the US greenback however slipped 0.2% in worth in opposition to the euro.
These shifts got here because the euro itself rose by 1.5% in opposition to the greenback.
BAM famous that the central financial institution has not held any overseas foreign money auctions since December 2021.
Exercise on the interbank market fell sharply, with transactions of overseas foreign money in opposition to dirhams totaling MAD 23.1 billion ($2.31 billion) in July, a drop of 48.2% in contrast with the identical month final yr.
Interactions between banks and their shoppers confirmed a special sample. Spot purchases climbed to MAD 41.4 billion ($4.14 billion), up from MAD 37.7 billion ($3.77 billion) the earlier yr, whereas ahead purchases reached MAD 23.3 billion ($2.33 billion), larger than MAD 17.9 billion ($1.79 billion) in July 2024.
On the gross sales facet, spot operations totaled MAD 41.2 billion ($4.12 billion), above final yr’s MAD 36.9 billion ($3.69 billion).
Ahead gross sales additionally edged up barely, from MAD 1.9 billion ($190 million) to MAD 2.2 billion ($220 million) year-on-year.
The figures recommend a cautious however regular adjustment in Morocco’s overseas alternate market, reflecting home dynamics and the shifting affect of main worldwide currencies.