Moroccan Dirham Strengthens Against Euro, International Reserves Hold Steady

BAM also indicates that no auction operation was carried out on the foreign exchange market during the same period in its note on weekly indicators.

In terms of international reserves as of March 29, they amounted to 227.5 billion dirhams, almost stable compared to the previous week, while on an annual basis they are down 1.8%.

As for interventions in the money market, they amounted to 77.5 billion dirhams, including 75 billion dirhams in the form of 7-day advances on tenders and 2.5 billion dirhams granted under the program to support the financing of very small and medium-sized enterprises (VSME).

In addition, the central bank reports a 0.8% drop in the MASI during the week, a drop that reaches 3.2% since the beginning of the year.