Moroccan Dirham Surges Against Euro and Dollar, Official Reserves at 358.6 Billion

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates in its weekly bulletin.

As of December 22, the official reserve assets (AOR) stood at 358.6 billion dirhams (MMDH), down 1.2% from the previous week and up 6.3% year-on-year, the same source said.

BAM’s interventions averaged 122.2 MMDH per day. These interventions are divided between 7-day advances for 52.7 MMDH, as well as long-term repurchase agreements and guaranteed loans for outstanding amounts of 42.2 MMDH and 27.4 MMDH respectively.

On the interbank market, the average daily trading volume stood at 4 MMDH and the interbank rate averaged 3%. At the tender on December 27 (value date December 28), the Bank injected an amount of 60.1 MMDH in the form of 7-day advances.