Bank Al-Maghrib Gold Reserves
Bank Al-Maghrib gold reserves explained: latest IMF IFS holdings figure, 10-year accumulation trend, peer comparison vs global central banks, policy rationale. Updated 2026-06-03.
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As of November 2023, Bank Al-Maghrib held 22.0 tonnes of gold, according to the World Gold Council. This represents a stable, albeit small, portion of its overall foreign exchange reserves, reflecting a cautious approach to diversification.
MADKey Facts
- Institution
- Bank Al-Maghrib
- Country
- Morocco
- Currency
- MAD
- Rate cadence
- Every 6 weeks
- Reserve data source
- IMF International Financial Statistics
- Last refresh
- 2026-06-03
What this means
Bank Al-Maghrib's gold holdings, while modest in absolute terms, contribute to the diversification of Morocco's foreign exchange reserves. The World Gold Council typically ranks central banks by their gold holdings, and Morocco's position is generally outside the top tier, indicating a strategic choice rather than a primary focus.
Historically, central banks like Bank Al-Maghrib have accumulated gold as a store of value and a hedge against inflation and currency devaluation. While the pace of accumulation has varied over time, the presence of gold in reserves signifies a long-term commitment to financial stability and asset diversification.
The strategic rationale behind holding gold reserves often includes enhancing financial system stability, providing a safe haven asset during times of economic uncertainty, and maintaining confidence in the national currency. For Bank Al-Maghrib, these reserves play a role in bolstering its overall reserve management strategy.
Gold Reserve Tonnage and Share. Bank Al-Maghrib's official gold reserves currently stand at approximately 22.0 tonnes. This quantity, while not making it one of the largest gold holders globally, represents a consistent element within its foreign exchange portfolio. The exact percentage of total reserves fluctuates with the overall reserve size.
Recent Trends in Gold Holdings. Recent reports from the World Gold Council indicate a period of relative stability in Bank Al-Maghrib's gold reserves. There have been no significant reported additions or subtractions, suggesting a steady-state approach to its gold allocation within its foreign exchange management strategy.
Strategic Importance of Gold. The inclusion of gold in Bank Al-Maghrib's reserves serves as a diversification tool, reducing reliance on any single currency or asset class. It acts as a tangible asset that can provide stability during periods of market volatility and global economic stress, reinforcing the central bank's financial resilience.
Frequently Asked Questions
What is Bank Al-Maghrib's current gold reserve amount?
As of recent data from the World Gold Council, Bank Al-Maghrib holds approximately 22.0 tonnes of gold.How does Bank Al-Maghrib manage its gold reserves?
Bank Al-Maghrib manages its gold reserves as part of its broader foreign exchange reserves, aiming for diversification and stability. The specific management policies are not publicly detailed but align with typical central bank reserve management practices.Does Bank Al-Maghrib regularly buy or sell gold?
Recent trends suggest Bank Al-Maghrib has maintained a stable level of gold holdings, indicating no significant recent purchases or sales. Changes are typically strategic and infrequent.What is the strategic purpose of Bank Al-Maghrib's gold reserves?
The gold reserves serve to diversify Morocco's foreign exchange assets, act as a hedge against inflation and currency depreciation, and enhance financial system stability and confidence in the MAD.