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Moroccan Dirham Gains Against Euro, Official Reserves Hold Steady

– bySylvanus · 1 min read
Moroccan Dirham Gains Against Euro, Official Reserves Hold Steady

The dirham appreciated by 0.20% against the euro and depreciated by 0.34% against the US dollar during the period from July 1 to 07, 2021. This is what the indicators published by Bank Al-Maghrib (BAM) indicate.

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates, while specifying that as of July 2, 2021, the outstanding official reserve assets stood at 301.2 billion dirhams (MMDH), almost stagnant from one week to the next and up 3.6% year-on-year.

The central bank reports that an amount of 88.1 MMDH was injected, including 36.4 MMDH in the form of 7-day advances on calls for tenders and 23.4 MMDH in the form of repurchase agreements, during the same period. Similarly, 28.2 MMDH were injected under the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 5.8 MMDH. As for the interbank rate, it stood at an average of 1.5%.

Category: Economy
Keywords:
Bank Al-Maghrib Moroccan Dirham Euro Dollar

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