I talked to my folks back home in Morocco, and they said that there was lines and lines of people in front of banks selling American dollars for Moroccan Dirhams.
The reason for this many people owning these dollars is because they try to make a living out it, buy dollars when cheap and sell it for higher price (This is illegal of course, because we are only allowed to exchange ~$1000 worth per year). Today they seem to lose hope in the American dollar.
I moved here in 01 and pay for school at 1 USD = ~12.2 DHs, now I work at 1USD = 7.98 DHs.
They should of busted those people btw. And I really hope it doesn't keep going down, I will suffer.
Edit: My dad said the USD has never been in 7DHs range, that is why people are panicking.
The reason for this many people owning these dollars is because they try to make a living out it, buy dollars when cheap and sell it for higher price (This is illegal of course, because we are only allowed to exchange ~$1000 worth per year). Today they seem to lose hope in the American dollar.
I moved here in 01 and pay for school at 1 USD = ~12.2 DHs, now I work at 1USD = 7.98 DHs.
They should of busted those people btw. And I really hope it doesn't keep going down, I will suffer.
Edit: My dad said the USD has never been in 7DHs range, that is why people are panicking.