Morocco’s Exchange Office circular: four permitted hedging transactions


Following the enlargement of the band of fluctuation of the Dirham to ±2.5% against ±0.3% previously, the Exchange Office (Office des Changes in French) published on January 19, 2018 the circular No. 1/2018 authorizing and fixing the terms of implementation of the hedging against foreign exchange hedge, interest rate risk, commodity price risk and the risks inherent in any asset or debt.

Link to the circular (in French):