Moroccan nationals transfers home increased 3.7 percent

Money transfers sent home by Moroccan nationals living abroad amounted to 21.11 billion dhs, about US$ 2.11 billion, during the first seven months of 2004, according to figures released by the Moroccan "Office des Changes."

The amount represents a 3.7 percent increase compared to the same period of last year, the bulletin of the "Office des change" said.

The remittances were sent through bank transfers which stood at 13.39 billion dhs, a 4.4 percent increase and postal office services 2.58 billion dhs, 13.4 percent increase, added the bulletin noting bank notes transfer went down by 2.3 percent.