Moroccan Dirham Strengthens Against Euro, Weakens vs Dollar; Reserves Rise

The central bank specifies in its latest bulletin of weekly indicators that no auction operation was carried out on the foreign exchange market during the indicated period.

Furthermore, the outstanding net international reserves stood at 255.3 billion dirhams, up 2.6% from the previous week and up 12.6% year-on-year as of April 3. 18 billion dirhams in the form of 7-day advances on call for tenders were injected by BAM during the same week. The total outstanding interventions amount to 89.7 billion dirhams, the bulletin notes. Still in the period from April 2 to April 8, the interbank rate averaged 2% and the daily trading volume was 3.5 billion dirhams.

20 billion dirhams in the form of 7-day advances. This is what BAM injected for the April 8, 2020 call for tenders. The overall trading volume was 526.5 million dirhams (MDH) compared to 788.2 MDH a week earlier. While on the central stock market, the average daily volume reached 105.3 MDH, after 157.3 MDH.