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 Morocco loses 2300 billion centimes of hard currency in 2011

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PostSubject: Morocco loses 2300 billion centimes of hard currency in 2011   Sat Feb 25, 2012 8:04 pm


Morocco lost last year, equivalent to 2300 billion centimes of hard currency after the foreign exchange reserves fell last year by 11.2, to settle its value in the range of 169.4 billion dirhams in 2010, Morocco, losing the AED 23 billion of hard currency from the warehouse during the two periods.

And suffered a reserve currency League from the pressure of imports, which rose over the past year by about 354.8 billion dirhams, especially imports of Morocco's grain, which evolved by 48.5 per cent last year to reach in the range of 10.9 billion dirhams with what shape the high grain prices from rising in the international market.

This at a time weighted oil bill, too, Ahitati the shoulders of hard currency holdings grew after crude oil from Morocco to reach to 31.7 billion dirhams after it was within the limits of the value of AED 6.6 billion.

No longer covers the stock of hard currency available to the Bank of Morocco only 6 months of imports, which prompted Bank of Morocco to increase the size of its interventions in the domestic financial market by injecting AED 38 billion in the coffers of the banks by the month and a half from now
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