RABAT, Aug. 4 (Xinhua) -- Morocco's net international reserves amounted to 22.59 billion U.S. dollars by the end of July, a year-on-year increase of 10.9 percent, Morocco's Central Bank said Saturday.
Despite the increase, the figures remain less than the ones in mid January of 24.51 billion dollars, when the country decided to adopt a more flexible exchange rate.
The weekly statistics of the central bank showed that Moroccan dirham slightly appreciated by 0.06 percent against the euro and remained stable against the U.S. dollar during the week between July 26 and August 1.
The dirham is pegged to a two-currency basket weighted 60 percent to the euro and 40 percent to the dollar.
The authorities said widening the dirham trading band is part of a broader plan to float the currency and make the economy more resilient against external shocks and help boost growth.
