Moroccan Dirham Weakens Against Dollar and Euro, Bank Al-Maghrib Reports

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

Between August 10 and 16, 2023, Bank Al-Maghrib injected an amount of 33.6 billion dirhams in the form of 7-day advances on call for tenders. Taking into account an outstanding amount of long-term repurchase agreements of 43.2 billion dirhams and an amount of long-term guaranteed loans of 22.6 billion dirhams, the overall outstanding amount of interventions stands at 99.4 billion dirhams.

On the interbank market, the average daily trading volume stood at 2 billion dirhams and the interbank rate averaged 3%.

On the stock market side, the MASI fell by 0.2%, bringing its performance since the beginning of the year to 12%, the central bank said.

As of August 18, the US dollar was worth 9.989 dirhams, while the euro was exchanged at 10.851 Moroccan dirhams.