September 25, 2018 / 4:33 PM / a month ago

Morocco cenbank: FX interbank market functioning well, no need to intervene

RABAT, Sept 25 (Reuters) - Morocco’s foreign exchange interbank market is functioning well and there is no need for the central bank to intervene to support the dirham, Central Bank Governor Abdellatif Jouahri said on Tuesday.

He told reporters it was too early to talk about a further liberalisation of the dirham after Morocco began a more flexible exchange rate in January.

Moroccan banks have a plentiful supply of hard currency and have even offered to sell some to the central bank, he added. (Reporting by Ahmed ElJechtemi Writing by Ulf Laessing Editing by Gareth Jones)

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