Morocco’s Foreign Exchange Reserves Exceed $39 Billion

ALDAR/

By the end of 2024, Morocco’s economy recorded a significant development in its foreign exchange reserves, which reached approximately $39.26 billion USD — an increase of 4.45% compared to the same period in 2023. This figure reflects a positive dynamic in the Kingdom’s financial performance, both in terms of hard currency inflows and the management of external assets.

This growth is attributed to a number of factors, most notably the improved revenues from hard currency-generating sectors such as industrial and agricultural exports, remittances from Moroccans living abroad, and tourism, in addition to the stability of foreign direct investment.

One of the most notable features of the Moroccan financial landscape is the liberalization of the exchange market since 1996. This means that banks and economic institutions in Morocco have the freedom to manage their foreign currency reserves, unlike in some economies with strict centralized systems, especially in countries that were formerly part of the communist bloc.

This flexible system gives economic actors greater ability to respond to global market fluctuations and contributes to enhancing the attractiveness of the Moroccan market to foreign investors by offering relative financial transparency and freedom.

These figures are a positive indicator of the national economy’s resilience in the face of external challenges, whether related to geopolitical fluctuations or global economic conditions. They also demonstrate Morocco’s ability to maintain its major financial balances and ensure the availability of foreign currency to meet its import needs and service its external debt.