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Moroccan Central Bank’s Gold Holdings Surge 49% to DH28 bn in 2025
Bank Al‑Maghrib announced that the market value of its gold portfolio climbed to about DH28.05 billion in 2025, a 49 % rise year‑on‑year, driven mainly by the rally in global gold prices. The physical stock stayed steady at roughly 22 tonnes (711,078 oz), and the valuation methodology follows the end‑of‑year market price, with resulting gains recorded in the foreign‑exchange reserve account.
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Bank Al‑Maghrib reported that the market value of its gold holdings reached approximately DH28.05 billion in 2025, a jump of 49 % compared with 2024.
The physical amount remained virtually unchanged at 711,078 troy ounces (about 22 tonnes), according to the central bank’s 2025 financial statements.
The “Gold assets and placements” line records the Dirham value of gold stored within Morocco and with foreign custodians, as well as gold‑linked investments with overseas counterparties.
Since the end of 2006, these assets have been re‑valuated at the closing market price on the last business day of each year. Gains or losses are reflected in the foreign‑exchange reserve assessment account, following the agreement signed on 1 November 2022 between Bank Al‑Maghrib and the Ministry of Economy and Finance.