Bank transfers between Morocco and abroad totalled about $18.7 bn in 1H of 2004

Bank transfers between Morocco and other countries totalled about $18.7 billion (169 billion Dhs) in the first half of 2004, against $17.8 billion (161 billion Dhs) during the same period last year, that is a 5 percent rise, the Exchange Office said.

The transfers, which recorded a balance deficit of $222 million (2 billion Dhs) at the end of June 2003, registered a surplus of $1.16 billion (10.53 billion Dhs) at the end of June 2004, said the Office ascribing the surplus to a 12.9 percent increase of inflow and a 2.8 percent decrease of outflow.

The inflow increase was recorded mainly in Euro receipts which rose 14.2 pc, netting $6.2 billion (56 billion Dhs) which represents 62.4 percent of total incoming transfers.

Dollar bank transfers to Morocco increased by 9.8 pc, going up from $3.05 billion (27.53 billion Dhs) to $3.3 billion (30.22 billion Dhs).

Meanwhile, outflow bank transfers in dollars decreased from $3.7 billion (33.68 billion Dhs) to $3.4 billion (31.4 billion Dhs) ( - 6.8 pc).