Finance

Dirham appreciates against dollar and euro

21 October 2026·2 min read

According to Derivatives Weekly from BMCE Capital Global Research, the dirham appreciated 1.62% versus the dollar and 1.52% versus the euro between October 8 and 15; the dollar fell from 9.9466 to 9.8136 MAD and the euro from 11.1346 to 11.0067 MAD, per Bank Al‑Maghrib data cited by BKGR.

The dirham gains ground against the dollar and the euro

Between 8 and 15 October, the national currency appreciated against both the greenback and the European currency, according to the Derivatives Weekly publication from BMCE Capital Global Research. On the local market, the USD/MAD pair fell by 1.62%, while the EUR/MAD gave up 1.52% over the same period.

Concretely, the dollar rate moved from 9.9466 dirhams on 8 October to 9.8136 dirhams on 15 October. As for the single currency, the euro stands at 11.0067 dirhams, after reaching 11.1346 dirhams a week earlier, according to Bank Al‑Maghrib data cited by BKGR.

The movement was not linear. The dollar notably hit a low of 9.7068 dirhams on 12 October, before edging up slightly towards the end of the period. The euro followed a comparable trajectory, with a trough of 10.8615 dirhams on that same date, 12 October.

This evolution of the dirham contrasts with the relatively limited movements observed in the major international currencies over the same window.

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