Moroccan Dirham Strengthens Against Euro, Weakens vs Dollar in Late March

During this period, no auction operation was carried out on the foreign exchange market, the central bank indicates, while specifying that as of March 26, 2021, the outstanding official reserve assets stood at 306.7 billion dirhams (MMDH), down 0.3% from the previous week, and up 19.6% year-on-year.

BAM reports that it injected an amount of 72.2 MMDH, including 28.6 MMDH in the form of 7-day advances on call for tenders and 15 MMDH in the form of repurchase agreements during the same period. Similarly, 28.5 MMDH were injected as part of the programs to support the financing of SMEs.

On the interbank market, the average daily trading volume stood at 5.5 billion. As for the interbank rate, it stood at an average of 1.5%. At the call for tenders on March 31 (value date April 1), the central bank injected an amount of 35.5 billion dirhams in the form of 7-day advances, it is specified.