Moroccan Dirham Weakens Against Euro and Dollar in March, Bank Reports

According to the monthly review of the economic, monetary and financial situation for April 2019, the volume of foreign exchange transactions against the dirham averaged 13 billion dirhams in March last, down 15.1% compared to the average observed in the first two months of the year.

As for the banks’ operations with customers, their volumes stood over the same period at 20.4 billion dirhams for spot purchases and 8.2 billion dirhams for term purchases, compared to 21.3 billion dirhams and 11.6 billion dirhams respectively on average between January and February, BAM reported.

As for spot sales, they amounted to 22 billion dirhams and term sales to 2 billion dirhams, with respective volumes of 22.5% billion dirhams and 2.6 billion dirhams.