Morocco cash in circulation tops 550B dirhams; digital dirham under study

Cash in circulation in Morocco exceeded 550 billion dirhams (~$56B) by end-August 2026 despite e-payment expansion. Authorities are cutting fees, tightening tax documentation, and studying a digital dirham to curb cash reliance. The scale of cash use signals persistent informality and potential fiscal drag, though policy response remains in early stages.

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