Currency rates in Morocco on Tuesday, March 16, 2021

The exchange rate of the euro and the dollar against the Moroccan dirham stabilized on Tuesday (March 16th, 2021), according to data from the Central Bank of Morocco.

The average euro price at the Central Bank of Morocco remained at 10.33 dirhams for purchase and 12 dirhams for sale, the same levels as yesterday.

The dollar was priced at 8.65 dirhams for purchase and 10.06 dirhams for sale.

The pound fell to AED 12.05 for purchase and AED 14 for sale.

Rial and dinar prices
According to the Moroccan Central Bank, the price of the Saudi riyal remained at 2.30 dirhams for purchase and 2.68 dirhams for sale.

The price of the Uae dirham was at AED 2.35 for purchase and AED 3.73 for sale.

The kuwaiti dinar rose to 28.64 dirhams for purchase and 33.29 dirhams for sale.

Positive indicators
The trade deficit shrank by 23.1% to 158.6 billion dirhams ($17.6 billion) in 2020, according to the Moroccan Bureau of Exchange.

Moroccan remittances abroad increased by 5% to 67.99 billion dirhams from 64.77 billion dirhams in 2019.

Morocco’s High Commission for Planning projected gdp growth of 0.5% year-on-year during the first quarter of 2021.

Morocco has a foreign exchange balance of about $33 billion, covering more than 7 months of imports of goods and services.