Morocco Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Morocco's real effective exchange rate was 98.14 in 2026 (projected), ranked 13th globally. This represents a 2.0% decrease from 2025. Data from BIS, covering 1988–2026.
Overview
Morocco's real effective exchange rate stood at 98.14 in 2026, a decline of +1.95 from 2025. Based on recent trends, this figure is projected to reach 98.73 by 2027. Morocco ranked 13th globally.
Morocco’s real effective exchange rate (REER) stood at 98.14 in 2026, placing the kingdom 13th in the global ranking and positioning it just below New Zealand’s 98.19 and above the Philippines’ 97.47. The REER has trended downward since its all‑time peak of 114.85 in 2000, reflecting a gradual loss of external price competitiveness over the past two decades. A pronounced trough occurred in 2012 when the index fell to 95.38, after which modest appreciation has kept the rate above that low point but well beneath the early‑2000s high. Over the 39‑year coverage period, the index has moved from 102.70 in 1988 to its current level, indicating a long‑run depreciation of the Moroccan dinar relative to its trading partners. Continued fiscal consolidation, structural reforms, and external demand shocks will shape whether the REER resumes a depreciating path that could boost export performance or stabilises at its present moderate level.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2029* trend | 97.88 | - | - |
| 2028* trend | 98.31 | - | - |
| 2027* trend | 98.73 | - | - |
| 2026 | 98.14 | −1.95 | #13 |
| 2025 | 100.09 | +1.53 | #19 |
| 2024 | 101.08 | +3.00 | #47 |
| 2023 | 100.76 | +3.09 | #48 |
| 2022 | 99.92 | −1.28 | #53 |
| 2021 | 103.18 | +3.18 | #72 |
| 2020 | 101.59 | +2.67 | #67 |
| 2019 | 100.22 | +2.02 | #59 |
| 2018 | 99.43 | +1.95 | #55 |
| 2017 | 98.65 | +0.73 | #56 |
| 2016 | 98.98 | +3.13 | #58 |
| 2015 | 96.84 | +0.60 | #48 |
| 2014 | 97.08 | +1.17 | #34 |
| 2013 | 97.01 | +2.42 | #26 |
| 2012 | 95.38 | −1.28 | #16 |
Detected Pattern
Analysis
Morocco matched the Export Boom Cycle pattern in 2006. Historically, 71% of countries showing this pattern (546 out of 768) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Morocco's real effective exchange rate was 98.14 in 2026. Ranked 13th globally. This represents a 2.0% decrease from the previous year.
Morocco's real effective exchange rate peaked at 114.85 in 2000.
The lowest real effective exchange rate in Morocco was 95.38 in 2012.
Morocco ranks 13th globally in real effective exchange rate as of 2026.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Morocco's real effective exchange rate is projected to reach 98.73 by 2027 based on trend extrapolation.
The real effective exchange rate of Morocco in 2026 was 98.14. This ranks 13th in the world.
Cite this page
@misc{historysaid_morocco_reer,
title = {Morocco Real Effective Exchange Rate},
url = {https://historysaid.com/morocco/reer/},
publisher = {HistorySaid},
year = {2026}
}