Morocco's foreign currency reserves continue to fall

Morocco's central bank in Rabat Morocco's foreign currency reserves fell below $18 billion mid-July, despite a positive start to the month. The central bank said that there was enough in the reserves to cover four months of imports.
There was a 0.16 percent decline in the value of the Moroccan dirham, compared to the euro, while a 0.73 percent increase was noted in relation to the US dollar.
There was a shortage in liquidity during the second quarter of 2013, with a notable improvement during the first quarter of 2013.
The central bank's net assets were also affected, with observers blaming the international economic crisis, and the subsequent trade imbalance for the loss.