Morocco’s central bank plans to establish two interbank markets by early 2025 to deepen local capital markets and enhance economic funding. The new markets will include an over-the-counter futures market for overnight interest rate swaps, providing a benchmark dirham yield curve and boosting FX hedging instruments. Additionally, an interbank forward FX market will be created to offer a benchmark for hedging against FX fluctuations, part of the country’s broader capital market reform efforts.