Moroccan Dirham Surges Against Dollar as Official Reserves Hit 408.5 Billion

During this period, no auction operations were carried out on the foreign exchange market, the central bank said in its latest weekly indicator bulletin.

On August 8, official reserve assets stood at 408.5 billion dirhams (MMDH), up 0.3% from the previous week and 12% year-on-year.

On the interbank market, the average daily trading volume was 6.2 MMDH and the interbank rate averaged 2.25%.

At the tender on August 13 (value date August 15), the Bank injected an amount of 70.2 MMDH in the form of 7-day advances.

During the same period, the MASI appreciated by 0.9%, bringing its performance since the beginning of the year to 34.4%.

As for the weekly trading volume, it fell from 5.2 MMDH to 2.5 MMDH week-on-week, mainly on the central equity market.