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Keywords: Reserves


Moroccan currency shows slight movement against major currencies

The Moroccan dirham experienced a minor depreciation of 0.2% against both the Euro and US dollar during the period of January 30 to February 5, according to Bank Al-Maghrib (BAM). This modest decline follows a period of exchange rate stability in the previous week. The central bank's weekly bulletin......

Moroccan dirham shows mixed performance as central bank boosts financial system

The Moroccan dirham demonstrated varied performance in foreign exchange markets during January 16-22, appreciating 0.6% against the US dollar while declining 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, BAM reported no currency auction operations in the foreign exchange......

Major oil reserve discovery in Iraq: two billion barrels uncovered

Iraq has announced the discovery of over two billion barrels of oil reserves located to the east of Baghdad. The announcement was made by the country’s state-run Central Oil Company. This new find is part of Iraq's ongoing efforts to boost its oil production capacity. Earlier last year, Iraq......

Morocco’s desalination push boosts agricultural water reserves to 26%

Morocco’s agricultural dams currently hold 3.71 billion cubic meters of water, representing a 26% filling rate, according to Ahmed El Bouari, the country’s Minister of Agriculture. The update was provided during a recent parliamentary session, where El Bouari highlighted the government’s......

Pakistan's USD 2.8 Billion Gold Discovery Promises Economic Transformation

Pakistan has unveiled a significant gold discovery in the Attock district, with reserves estimated at 32.64 tons valued at approximately 800 billion Pakistani rupees (USD 2.87 billion). The announcement came from former Punjab Mining Minister Ibrahim Hasan Murad, following extensive geological surveys......

Morocco's Financial Pulse: Dirham Dips, Reserves Surge Amid Market Shifts

The Moroccan financial landscape showcased mixed signals in the final days of 2024 and early 2025, with the dirham experiencing a modest decline while foreign reserves demonstrated notable strength. The national currency recorded a 0.5% depreciation against the US dollar and a 0.6% decline against the......

Morocco's Dam Reserves Show Promising Rise Amid Ongoing Water Challenges

Morocco's water situation has taken a positive turn as dam reserves across the country reached a filling rate of 28.44% as of January 2, 2025, according to recent data from the Ministry of Equipment and Water. This marks a notable improvement from the 23.27% recorded during the same period last year. The......

IMF Approves Second Review of Sri Lanka's $2.9 Billion Bailout, Cautions on Ongoing Economic Vulnerabilities

The International Monetary Fund (IMF) has approved the second review of Sri Lanka's $2.9 billion bailout package, marking a crucial step for the island nation’s recovery. Despite signs of stabilization, the global lender cautioned that Sri Lanka’s economic outlook remains fragile and......

SDX Energy: Unveiling Morocco's Untapped Energy Potential

In a significant development for the energy sector, SDX Energy has announced its plans to embark on an ambitious exploration journey in Morocco. The company, known for its expertise in the field, is set to unlock the country's hidden energy reserves, offering a glimpse into a promising future for......