Includes how foreign exchange is managed and implications for U.S. business.
Last Published: 7/15/2019

Morocco maintains a system of foreign exchange controls managed by the Foreign Exchange Office (Office des Changes).  The Moroccan dirham trades within a 2.5% band of a reference rate currently weighted 60% to the euro and 40% to the U.S. dollar.  Because this reference rate is more heavily weighted to the euro, variations in the dollar-euro rate are generally reflected in the dollar-dirham rate. 

The authority to buy and sell foreign exchange has been delegated to the banking system.  Banks and financial institutions will carry out transactions upon presentation of appropriate documentation, such as an invoice to pay for imports.  Capital transactions require authorization from the Foreign Exchange Office and are routinely granted for business-related transactions.  Under the Moroccan investment code, the government guarantees for foreign investors the repatriation of both invested capital and profits, provided that the initial capital investment was filed and registered appropriately.
 

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