Morocco Central Bank Governor Says No Devaluation in Dirham LiberalizationSource: www.export-egypt.com 6/20/2017, Location: Africa |
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Morocco's central bank governor said the bank would announce the date of the first phase of the plan to liberalise the dirham currency by the end of the June, but the reform programme does not include a devaluation.
Governor Abdellatif Jouahri told reporters the widening of the currency's official bands for fluctuation -- one of the first stages in introducing the flexible exchange rate -- would be progressive. The dirham's exchange rate is currently tightly controlled via a 60 percent weighting to the euro and 40 percent to the dollar. |
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