Moroccan Dirham Slips Against Euro and Dollar, Central Bank Reports

During this period, no auction operation was carried out on the foreign exchange market, according to Bank Al-Maghrib (BAM) in its weekly bulletin.

According to the same source, the official reserve assets (AOR) stood at 369.8 billion dirhams (MMDH) as of January 31, up 0.1% from the previous week and 3.7% year-on-year.

Regarding the volume of Bank Al-Maghrib’s interventions, it amounted to an average of 141.5 MMDH per day during the week of January 30 to February 5. This volume is divided between 7-day advances for 59.7 MMDH, as well as longer-term repurchase agreements (51.3 MMDH) and guaranteed loans (30.5 MMDH).

In the interbank market, the average daily trading volume was 3.7 MMDH and the interbank rate averaged 2.5%.