Moroccan Dirham Strengthens Against Dollar, Weakens Versus Euro
– bySaid
· 1 min read
The Moroccan dirham appreciated by 1.3% against the US dollar and depreciated by 0.6% against the euro, during the period from March 6 to 12, according to Bank Al-Maghrib (BAM).
During this period, no auction operation was carried out on the foreign exchange market, the Moroccan central bank said in its weekly bulletin.
The official reserve assets stood at 367.9 billion dirhams (MMDH) as of February 28, almost stagnant compared to the previous week and up 2.3% year-on-year.
In the money market, the volume of BAM’s interventions reached an average of 147.9 MMDH per day, divided between 7-day advances (66.1 M
Category: Economy
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