Money Market – Euro rate increases in value on Moroccan Dirham liberalization’s first day

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Moroccan Dirham exchange rate liberalization has revealed a series of surprises since day one.

European Exchange Offices have focused most of their operations on demands over Euro currency, causing its value to reach 11.35MAD for sale, and 11.20 for purchase, Assabah newspaper reported.

Euro selling price has increased by 0.20% since last Friday due to high demands by merchants and travelers, the paper added, noting that the selling price in the unorganized sector has gone beyond 11.75MAD, especially in “Bazaars”.

Most exchange offices, however, have set their prices in accordance with the market’s supply and demand data, keeping the US dollar’s selling price below 9.50.

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