Thursday 22, March 2018 by Matthew Amlôt

Currency floatation to boost Morocco’s real estate market, says JLL

Earlier this year, the Moroccan Central Bank (Bank Al-Maghrib) introduced the gradual floatation of the Moroccan Dirham, providing more flexibility to real estate investors and paving the way for a more buoyant real estate market in the year ahead.

According to JLL’s Morocco 2018 report, the bank widened the official band within which the dirham may fluctuate to five per cent, with a maximum daily move of 2.5 per cent above or below the official rate. As part of a broader monetary reform, this move is intended to bolster the competitiveness of Morocco’s economy and will potentially position the country as a regional economic hub, and the gateway to Africa.

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