Morocco’s Currency Band is Stable, Official

Morocco is not currently planning to modify its currency trading band, said Finance Minister Nadia Fettah Alaoui Monday.
On the sidelines of the annual conference on finance at City Week in London, Fettah Alaoui said that Morocco initiated gradual currency market reforms in 2018, and it increased the MAD’s allowable fluctuation from a centrally set reference level to 5% from 2.5% in 2020, but there have been no significant changes since then.
Alaoui believed that the pace of change should remain the same for now until conditions permit it to move towards a more flexible regime.
The MAD remained within the 5% range despite the widespread pressure on frontier market currencies.
The Moroccan government’s subsidies have aided in limiting inflationary pressures that could have impacted the population, she added.
The Minister met with Lord Dominic Johnson of Laiston CBE, Minister of State for Investment Andrew Bailey, Governor of the Bank of England Nick O’Donohoe, CEO of British International Investment, and other key players in the British financial and investment ecosystem.