Morocco’s currency lost more ground last week. The dirham fell 1.47% against the euro and 2.95% against the US dollar between 1 and 7 October 2026, according to Bank Al-Maghrib’s weekly bulletin. The Casablanca Stock Exchange’s main index, the MASI, also fell over the same period.
The drop extends a longer slide. The central bank’s reference rate on 6 October stood at 9.9694 dirhams per dollar and 11.2167 per euro, close to the symbolic mark of 10 to the dollar. The dirham has lost 6.5% against the dollar since the end of July, and it weakened faster from mid-September. Moroccan media have tracked a five-week decline, and a recent report pointed to import demand adding to the pressure.
The currency is managed rather than freely floating. The central rate is set against a basket weighted 60% euro and 40% dollar. That is one reason the moves against the two currencies differ.
The central bank has not intervened on the currency market. It carried out no foreign-exchange auctions during the week. Its cushion is large: official reserve assets stood at MAD 515.7 billion on 2 October, up 1.8% on the week and 23% on the year. The interbank rate held at 2.25%.
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