Moroccan Dirham Gains Against Euro and Dollar as Foreign Reserves Rise

During this period, no foreign exchange auction operation was carried out, the central bank indicates in its latest weekly indicators bulletin.

As of May 26, 2023, official reserve assets stood at 354.5 billion dirhams (MMDH), down 0.4% from the previous week and up 8.2% year-on-year, the same source said.

During the same week, the overall outstanding amount of BAM interventions stood at 78.9 MMDH, including 32.1 MMDH in the form of 7-day advances on calls for tenders, 26.1 MMDH in outstanding long-term repurchase agreements and 20.7 MMDH in long-term guaranteed loans.

As for the overall trading volume, it amounted to 785.7 million dirhams (MDH) compared to 434.2 MDH the previous week. On the central stock market, the average daily volume amounted to 147.1 MDH after 86.7 MDH from one week to the next.