Moroccan Dirham Gains Against Dollar, Slips Versus Euro in August-September
The Moroccan dirham appreciated by 0.45% against the dollar and depreciated by 0.45% against the euro between August and September, according to Bank Al-Maghrib (BAM).
Regarding the foreign exchange auction operations of the central bank, no session has been held since December 2021, the Bank specifies in its recent monthly review of the economic, monetary and financial situation.
On the interbank market, the volume of foreign exchange transactions against dirhams stood at 44.3 billion dirhams (MMDH) in August 2024, down 29.5% compared to August 2023.
As for the banks’ operations with customers, their volume stood in August at 34.9 MMDH for spot purchases against 31.6 MMDH a year earlier. For their part, forward purchases amounted to 19.3 MMDH after 15.9 MMDH the previous year.
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