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ناظورسيتي
Euro nears 11 dirhams
The European currency, the euro, has experienced a noticeable rise against the Moroccan dirham, approaching the 11-dirham mark and reaching new record levels. The euro ended the week between September 24 and 30 at a rate of 10.998 dirhams, compared to 10.945 dirhams in the previous week, resulting in an increase of 53 dirhams for an amount of 1,000 euros and 265 dirhams for 5,000 euros within just one week. This continuous decline in the value of the dirham in recent weeks has led to higher costs for money transfers, while the US dollar also saw a slight increase from 9.591 to 9.682 dirhams, all without intervention from Bank Al-Maghrib.
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