Dirham falls: 1,000 euros now yield 39 more dirhams

The dirham falls back: 1 000 euros now yield 39 dirhams more
The dirham lost ground against the euro and the dollar between 27 August and 2 September.
According to Bank Al-Maghrib’s weekly indicators, the Moroccan currency depreciated by 0,2 % against the European currency and by 0,9 % versus the greenback over the week.
For MRE who exchange euros, the movement is slightly favourable.
Based on the reference rates, 1 000 euros are worth about 39 dirhams more than at the start of the period.
Concretely, the euro’s reference rate moved from 10,776 dirhams on 27 August to 10,815 dirhams on 2 September.
For reference, 1 000 euros represented 10 776 dirhams at the start of the period, compared with 10 815 dirhams at the end.
For an exchange of 5 000 euros, the difference amounts to roughly 195 dirhams.
The dollar moved more sharply, rising from 9,252 to 9,340 dirhams over the same window.
Bank Al-Maghrib notes that no auction operations were carried out on the foreign‑exchange market during the period.

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