Full float of Morocco’s currency 5-15 years away, says central bank governor

It may take Morocco five to 15 years to fully liberalize its currency regime, central bank Governor Abdellatif Jouahri tells Bloomberg, as floating the MAD is “dependent on other reforms including strengthening the country’s export base and reducing the current-account deficit.” Morocco began implementing a more flexible exchange rate earlier this month, widening the MAD fluctuation band to 2.5% above or below its peg from 0.3%.