Morocco is making it easier for foreign investors to hedge against currency risk with a new directive from the Office des Changes. This initiative is part of ongoing financial reforms aimed at boosting the country’s appeal to international investors while supporting the evolution of its exchange rate regime.
Developed in collaboration with Bank Al-Maghrib and the Moroccan Association of Financial Market Operators, the directive sets out clear guidelines for non-residents seeking to protect their capital from fluctuations in the dirham. It specifies the types of authorized hedging operations and outlines the required documentation that banks must obtain before approving such transactions.
By introducing greater flexibility, this measure allows foreign investors to better safeguard their capital against currency volatility, reinforcing confidence in the Moroccan market. It also complements the General Instruction on Foreign Exchange Operations, which took effect on January 2, 2024, marking another step in the modernization of Morocco’s financial framework.
With a more secure and predictable investment environment, the Office des Changes reaffirms its commitment to an open and competitive market—one that is well-positioned to attract increased international capital.
