Morocco's central bank announces end of transactions in european currencies in 2002
Morocco, Economics, 8/2/2001

Bank Al-Maghrib, Moroccan central bank, announced that it will stop all transactions in the European currencies starting next January 1st, 2002.

The exchange rates published daily by the bank will also no longer include the national currencies which will be replaced by the European single currency, the Euro.

All external transactions, including billing and payments, the wording of trade or financial contracts and the foreign currencies accounts, will be done in Euro or in one of the currencies listed on the exchange rates.

Almost all European national currencies will disappear as the Euro is adopted, except for the currencies of Britain, Denmark, Norway, Sweden and Switzerland which will continue to appear on the Bank's exchange rates list.

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