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Morocco Central Bank May Revise Currency Basket Weightings

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Morocco’s central bank said it may revise its currency peg to reflect the weakening of the euro against the U.S. dollar.

The central bank is working with the finance ministry on the issue, Governor Abdellatif Jouahri told a news conference in Rabat after cutting the benchmark interest rate by a quarter of a percentage point to 2.5 percent. Morocco has a managed float exchange-rate system against a euro-dominated basket of currencies, according to the Economist Intelligence Unit.