Moroccan Dirham Holds Steady Against Euro and Dollar, Reserves at 301.1 Billion
The Moroccan currency is almost stable against the euro and the US dollar. This is what the indicators published by Bank Al-Maghrib (BAM) during the period from July 15 to 20, 2021 indicate.
During this period, no auction operation was carried out on the foreign exchange market, BAM indicates, while specifying that as of July 16, 2021, the outstanding official reserve assets stood at 301.1 billion dirhams (MMDH), down 0.1% from the previous week and up 2.4% year-on-year.
The central bank reports that an amount of 120.9 MMDH was injected, including 69.3 MMDH in the form of 7-day advances on call 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 was 1 MMDH. As for the interbank rate, it averaged 1.5%.
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