January 18, 2018 / 5:12 PM / a month ago

Morocco finmin: launching new FX system step by step, watching impact closely

RABAT, Jan 18 (Reuters) - Morocco is launching a flexible currency exchange system in a step-by-step process while remaining aware of any potentially negative impact on people’s purchasing power, the finance minister said on Thursday.

Mohammed Boussaid told reporters the kingdom was not following Egypt’s example of switching to a fully free-floating exchange rate in one sudden step. (Reporting by Ulf Laessing and Zakia Abdennebi; Editing by Hugh Lawson)

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