The Speed of Currency Exchange in Sino-Moroccan Trade: Growth Potential of Non-Dollar Transactions

Résumé

 This study examines the efficiency of currency exchange in Sino–Moroccan trade, with particular attention to transaction speed, institutional structure, and the potential of non-dollar settlement mechanisms. Using a mixed-methods approach, the research combines survey data from 201 respondents with semi-structured interviews conducted with two Moroccan commercial banks engaged in cross-border transactions with China. To quantify financial efficiency, the analysis applies Fisher’s velocity of money framework to transaction timelines, while Keynes’s liquidity preference theory is used to interpret behavioral and institutional constraints.

The findings reveal significant disparities in transaction speed depending on institutional presence and settlement channels. Banks with direct representation in China complete transactions substantially faster than those relying on correspondent banking networks, resulting in markedly higher monetary velocity. Survey results further indicate strong public readiness for digital payments and moderate trust in non-dollar trade, alongside persistent concerns regarding cost, security, and regulatory clarity. Overall, the study demonstrates that transaction speed functions as a critical growth factor in bilateral trade and that trust and financial infrastructure are decisive in enabling efficient currency exchange. The results offer practical insights for policymakers and financial institutions seeking to enhance Sino–Moroccan financial cooperation and support diversified trade settlement.