Morocco Keeps Option of Flexible Dirham to Tackle Outside Shocks

Bloomberg
By Souhail Karam, Jill Ward, and Rene Vollgraaff

•  Surge in oil prices should prompt switch back, Jouahri says
•  Economy struggling with rising social demands, poor harvest

Abdellatif Jouahri Photographer: Abdelhak Senna/AFP via Getty Images

Morocco is able to switch back to a more flexible foreign-exchange regime at the first sign of an external shock such as a surge in oil prices, Bank Al-Maghrib Governor Abdellatif Jouahri said.