Moroccan Dirham Strengthens Against Euro and Dollar, Central Bank Reports
The dirham remained almost stable against the euro and appreciated by 0.53% against the US dollar, between March and April 2021. This is revealed by the indicators published by Bank Al-Maghrib (BAM).
During this period, no auction session was held, the central bank indicates in its monthly review of the economic, monetary and financial situation for May 2021.
On the interbank market, the volume of foreign exchange transactions against the dirham stood at 31.8 billion dirhams (MMDH) in March 2021, down 16.4 MMDH compared to the same month of the previous year, it is specified.
As for the volume of bank transactions with customers, it amounted in March to 18.7 MMDH for forward purchases, against 18 MMDH a year earlier, and to 3.2 MMDH for forward sales, after 7.4 MMDH.
Regarding the net foreign exchange position of banks, it stood at 1.4 MMDH at the end of March, compared to 4.8 MMDH a month earlier.
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