Morocco's Foreign Currency Reserves Hit Record 502 Billion Dirhams
Morocco's official reserve assets reached an all-time high of 502.1 billion dirhams, up 21.1% year-on-year, according to the latest data from Bank Al-Maghrib.
Morocco's official foreign currency reserve assets reached approximately 502.1 billion dirhams, equivalent to $54 billion, as of September 4, according to data published by Bank Al-Maghrib on Friday, September 11, 2026. The figure marks the highest level ever recorded by the Kingdom's official reserves.
Reserves rose 0.4% compared to the previous week, 13.4% since the start of 2026, and 21.1% year-on-year, according to the central bank. The rise continues an upward trend already visible earlier in the year: reserves stood at 469.8 billion dirhams at the end of April, up 23.4% from the same period in 2025.
Reserve Growth: The Numbers in Detail
| Indicator | Change |
|---|---|
| Week-on-week | +0.4% |
| Since start of 2026 | +13.4% |
| Year-on-year | +21.1% |
Why This Number Matters
The current reserve level is enough to cover Morocco's imports of essential goods and services for more than 5 months, a key indicator monetary authorities use to gauge the country's capacity to withstand external shocks and maintain dirham exchange-rate stability. Economic observers link the continued improvement to strong phosphate and automotive exports, rising tourism revenues, and sustained remittance flows from Moroccans living abroad.
The record level gives the government and the central bank wider room to maneuver against potential fluctuations in energy or commodity markets, at a time when the country is preparing for major electoral and budgetary milestones in the coming months.