Moroccan Dirham Strengthens Against Dollar, Slips Versus Euro in Latest Week

During this period, no auction operation was carried out on the foreign exchange market, the central bank specifies in its weekly bulletin.

According to the same source, the official reserve assets stood at 363.6 billion dirhams (MMDH) as of August 16, down 0.3% from the previous week and up 3.4% year-on-year.

Regarding BAM’s interventions, they averaged 144.8 MMDH per day. They are divided between 7-day advances for an amount of 61.1 MMDH, as well as longer-term repurchase agreements and guaranteed loans for respective amounts of 49.4 MMDH and 34.3 MMDH.

On the interbank market, the average daily trading volume was 3.2 MMDH and the interbank rate averaged 2.75%.

As for the weekly trading volume, it fell from 455.7 million dirhams (MDH) the previous week to 277.1 MDH, mainly carried out on the Central (Stocks) market.