Moroccan Dirham Holds Steady Against Euro, Gains on US Dollar

During this period, no auction operation was carried out on the foreign exchange market, the central bank indicates, while specifying that as of April 9, 2021, the outstanding official reserve assets stood at 304.3 billion dirhams (MMDH), down 0.4% from the previous week, and up 3% year-on-year.

BAM reports that it injected an amount of 69 MMDH, including 25.5 MMDH in the form of 7-day advances on call for tenders and 15 MMDH in the form of repurchase agreements during the same period. Similarly, 28.5 MMDH were injected as part of the support programs for MSME financing.

On the interbank market, the average daily trading volume stood at 4.5 billion. As for the interbank rate, it averaged 1.5%. During the call for tenders on April 14 (value date April 15), the central bank injected an amount of 33.9 billion dirhams in the form of 7-day advances, it is specified.