Moroccan Dirham Stable Against Euro, Gains on Dollar as Reserves Reach 230.2 Billion

In a note on its weekly indicators, BAM indicates that no auction operation was carried out on the foreign exchange market. The same note points out that the net international reserves stood at 230.2 billion dirhams (MMDH) as of November 15, down 0.3% from the previous week but up 3.2% year-on-year.

The Moroccan central bank specifies that it injected an amount of 79.8 MMDH, of which 72.9 MMDH in the form of 7-day advances on call for tenders, 2.3 MMDH granted under the TPME financing support program and 4.6 MMDH provided in the form of foreign exchange swaps.

During this period, the same note indicates that the interbank rate stood at 2.26% and the trading volume at 2.9 MMDH. It also adds that during the call for tenders on November 20 (value date November 21), it injected an amount of 74.3 MMDH in the form of 7-day advances.