Moroccan Dirham Strengthens Against Euro and Dollar, Central Bank Reports

According to Bank Al-Maghrib, in its note on its weekly indicators, no auction operation was carried out on the foreign exchange market.

Regarding the net international reserves, they stood at 244.4 billion dirhams (MMDH) as of January 10, down 0.5% from the previous week, and up 6.7% year-on-year.

During this period, Bank Al-Maghrib indicates that it injected an amount of 57 MMDH in the form of 7-day advances on a call for tenders during the week of January 9 to 15, and 2.3 billion granted under the program to support the financing of SMEs and 4.2 billion, paid in the form of foreign exchange swaps, noting that the total volume of interventions amounted to 63.5 MMDH.

As for the interbank rate, it stood at an average of 2.25% and the daily trading volume at 2.3 MMDH, the note states. It also specifies that during the call for tenders on January 15 (value date January 16), Bank Al-Maghrib injected an amount of 53.1 MMDH in the form of 7-day advances.