18 Hrs
Source:
ناظورسيتي
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Euro's fifth decline vs dollar impacts dirham
The euro declined against the US dollar, marking the fifth consecutive weekly decline, despite a slight recovery on Friday. This was supported by falling energy prices and US Treasury yields. The euro's decline led to a 0.2% decrease in its exchange rate since the beginning of the week, which may enable Moroccan consumers to reduce the costs of importing European goods and services and improve their purchasing power. However, this depends on how exchange rate fluctuations translate into final prices in the local market. It also affects the value of remittances from Europe to Morocco, which could limit the purchasing power of households that rely on them.
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