Morocco · Country watch

New Government Formed, Dirham Rates Update

Morocco's new government takes office with Fatima Ezzahra El Mansouri as head, while the dirham exchange rates fluctuate against major currencies.

Florent Kalfon · October 17, 2026 · 11 sources

The picture Stable

The appointment of a new government under Fatima Ezzahra El Mansouri stabilizes political conditions, while fluctuating dirham rates maintain financial volatility. Trade relations with Spain and China remain strong, supporting logistics and supply chains.

In this briefing Bank Al-Maghrib · Office des Changes · Spain · China · Mohammed VI · Fatima Ezzahra El Mansouri · Government of Morocco

Regulation

Nothing significant reported today.

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

Nothing significant reported today.

Companies

Nothing significant reported today.

Markets

finance

Dirham exchange rates fluctuate against major currencies

Bank al Maghrib after adding Tifinagh — Bank al Maghrib after adding Tifinagh Bananakingler, CC0 via Wikimedia Commons

The dirham's exchange rates against major currencies showed fluctuations on Friday, according to Agadir 24. The euro was bought at 10.0980 and sold at 11.7356, while the US dollar was bought at 8.98240 and sold at 10.4390. The exchange rates reflect ongoing volatility in currency markets, impacting import and export costs.

Impact Importers and exporters face variable costs due to fluctuating dirham exchange rates against major currencies.

Sources: Agadir 24 ↗

Trade

logistics

Spain and China dominate Morocco's trade partners

Spain remained Morocco's top trade partner in 2025, while China was the leading supplier, according to a report by the Office des Changes, as cited by yabiladi.com. The report highlights the continued importance of European and Chinese markets for Moroccan trade. These dynamics affect trade flows and supply chain decisions for businesses operating in Morocco.

Impact Logistics managers and importers must consider Spain and China's roles in supply chains and trade strategies.

Sources: yabiladi.com ↗

Politics

public-sector

King Mohammed VI appoints new government

Government of Morocco Wikimedia Commons, Public domain via Wikimedia Commons

King Mohammed VI appointed the new Moroccan government on Friday, led by Prime Minister Fatima Ezzahra El Mansouri, at a ceremony in Rabat. The new cabinet includes Abdelouafi Laftit as Minister of the Interior and Nasser Bourita as Minister of Foreign Affairs, among others, according to Tanja7. The government formation follows recent elections and aims to address key national challenges.

Impact Public-sector projects and policies may shift under the new government, affecting contracts and regulatory environments.

Sources: Tanja7 ↗, Agadir 24 ↗, Hespress ↗, Tangier News ↗

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