Moroccan Dirham Weakens Against Euro and Dollar, Central Bank Reports

During this period, no auction operations were carried out on the foreign exchange market, BAM said in its weekly bulletin. As of June 28, 2024, the official reserve assets stood at 366.1 billion dirhams, down 0.1% from the previous week and up 5.8% year-on-year.

BAM’s interventions averaged 137.3 billion dirhams (MMDH) per day, divided between 7-day advances (52.9 MMDH), long-term repurchase agreements (53.1 MMDH) and guaranteed loans (31.3 MMDH).

On the interbank market, the daily average trading volume was 5.2 MMDH and the interbank rate averaged 2.75%.

As for the weekly trading volume, it fell from 1.5 MMDH to 888.9 million dirhams (MDH), mainly carried out on the central equity market.