Office des Changes: Transfers from MREs up 5% at the end of May

The Foreign Exchange Office reported that remittances made by Moroccans residing abroad (MRE) recorded an increase of 5% (+1.83 billion dirhams) at the end of May 2022 compared to a year earlier.

In its bulletin on the monthly indicators of foreign trade for the month of May, the Office specifies that these transfers thus amounted to more than 38.31 billion dirhams (MMDH), against 36.47 billion dirhams for May 2021.

There is also a surplus in the balance of trade in services amounting to more than 30.63 billion dirhams, up 78.3%.

This development is explained by an increase in exports of 44.8% to 67.73 billion dirhams, greater than that of imports (+25.3%).

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