Moroccan Dirham Strengthens Against Dollar in August 2026: BMCE Capital's Forex Outlook

Morocco's dirham appreciated against the US dollar by 0.25% in August 2026, driven by international weakness in the greenback that outweighed domestic market dynamics. Meanwhile, the EUR/MAD pair gained 0.63% as the euro strengthened globally against the dollar. BMCE Capital analysts project continued moderate dirham strength, forecasting EUR/MAD at 10.86 and USD/MAD at 9.285 over the next three months, with spreads expected to tighten further amid stable international currency dynamics.

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