Moroccan Dirham Strengthens Against Euro, Weakens vs Dollar: Central Bank Report

The dirham appreciated by 0.41% against the euro and depreciated by 1.17% against the US dollar during the period from March 4 to 10, 2021. This is according to the indicators published by Bank Al-Maghrib (BAM).
During this period, no auction operations were carried out on the foreign exchange market, BAM indicates, while specifying that as of March 5, 2021, the outstanding official reserve assets stood at 307.9 billion dirhams (MMDH), down 0.2% week-on-week, and up 23.5% year-on-year.
BAM reports that an amount of 73.4 MMDH was injected, including 28.2 MMDH in the form of 7-day advances on tender and 15.9 MMDH in the form of repurchase operations during the same period. Similarly, 27.7 MMDH and 1.6 MMDH were injected respectively under the programs to support the financing of SMEs and for foreign exchange swap operations.
On the interbank market, the average daily trading volume stood at 3.4 billion. As for the interbank rate, it averaged 1.5%. During the tender on March 10 (value date March 11), the central bank injected an amount of 26.1 billion dirhams in the form of 7-day advances, it is specified.
Related Articles
-
Stranded Swiss Family of Nine Escapes Air Canada Chaos with $14,000 Royal Air Maroc Rescue
18 August 2025
-
Love Island Winners Molly and Tom Flaunt Lavish Marrakech Getaway at Exclusive Nobu Hotel
18 August 2025
-
Moroccan Retail Giant Atacadão Fuels Label’Vie’s Explosive Growth, Eyes 19 Billion Dirham Target
18 August 2025
-
Stellantis Gears Up: Morocco to Produce Popular ’Grande Panda’ Model, Training Workers in Serbia
18 August 2025
-
Ryanair’s Double Standard: Moroccan Travelers Face Unfair Luggage Fees at Home Airports
18 August 2025