Morocco’s external reserves rose to $53.4bn in Jul 2026.

Higher is better. A larger stockpile gives a country more room to keep paying for imports and foreign debt if export earnings or capital inflows weaken. Morocco's reserves stood at $53.4bn in July 2026, up $9bn, or 20.3%, from $44.4bn a year earlier. Since Aug 2024 the low was $36.6bn in October 2024 and the high was $53.5bn in May 2026. The latest figure therefore sits just below the top of its range, well above that low.

Why it matters. At $53.4bn, the cushion is far larger than it was in late 2024, which gives the central bank more capacity to support the dirham and to cover the country's import bill. Importers and firms with foreign currency debts face less risk of a sudden shortage of foreign exchange. For the state, a bigger buffer supports its borrowing terms on international markets.