Morocco's foreign currency reserves up 5 % in 1998

Originally published February 25, 1999

Morocco's reserves in foreign currency increased in 1998 by 5 % to $ 4.4 Billion against $ 4.2 bln in 1997. According to Morocco's Central Bank (Banque AL Maghreb), the reserves are sufficient to cover the country's imports for the upcoming six months.

Tourism returns and remittances of Moroccan immigrants are Morocco's major hard currency source.