Moroccan Dirham Strengthens Against Dollar, Slips Versus Euro in July

In its monthly review of the economic, monetary and financial situation for August 2020, the central bank indicated that no auction session has been held since April 2018.

As for the volume of foreign exchange transactions against the dirham, it reached 18.6 billion dirhams in July, up 3.9 billion dirhams compared to the level recorded in the same month of the previous year on the interbank market.

Regarding the volume of transactions by banks with customers, it amounted to 18.9 billion dirhams for spot purchases and 12 billion dirhams for term purchases, compared to 24.6 billion dirhams and 11.9 billion dirhams respectively in July 2019.

As for sales, they amounted to a total of 22.6 billion dirhams for spot transactions and 4.2 billion dirhams for term transactions, after 25.7 billion dirhams and 2.1 billion dirhams a year earlier. As for the net foreign exchange position of banks, it was positive at 5.7 billion dirhams at the end of July.