Morocco excludes reducing the value of its currency

Economic and financial sources in Morocco said that Morocco will not reduce the value of its national currency despite of the increase of the Dirham value 13% against the Euro.

The sources added that the value of Dirham will not be reduced despite of its increase against the Euro and that the principle of reducing the Dirhamn value might serve the exports yet it will harm - no doubt - all the other economic sectors.

The local producers demanded last Friday in Casablanca reducing the value of the Dirham to support fruits and vegetables exports to stop their losses.

Exporters said that the output of the agricultural products exports have been decreased with 16,8% since 1996 i.e 280,3 million dollars annually due to the increase of the Dirham value before the Euro.

Statements of the Moroccan central bank state that the Euro price reached 9.4552 Dirham.