Moroccan Dirham Dips Against Euro, Gains on Dollar Amid Stable Reserves
The Moroccan currency depreciated, during the week of March 7 to 14, by 0.07% against the euro and appreciated by 0.14% against the dollar.
The weekly indicators of Bank Al-Maghrib (BAM) report a stabilization of the net international reserves at 227.5 billion dirhams (MMDH) as of March 8, while on an annual basis, they are down 2.4%.
As for interventions in the money market, BAM injected a total of 75.5 billion dirhams, including 73 billion dirhams in the form of 7-day advances on tenders and 2.5 MMDH granted under the program to support the financing of SMEs.
The interbank rate stabilized at 2.26%, while the trading volume stood at 4.3 billion dirhams. As for the stock market, it recorded a 0.5% decline from March 7 to 13 and 2.2% since the beginning of the year.
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