Moroccan Dirham Weakens Against Euro, Gains on Dollar Amid Reserve Changes

During this period, no auction operation was carried out on the foreign exchange market, the central bank indicates, while specifying that as of April 2, 2021, the outstanding official reserve assets stood at 305.5 billion dirhams (MMDH), down 0.4% from the previous week, and up 14.9% year-on-year.

BAM reports that it injected an amount of 79 MMDH, including 35.5 MMDH in the form of 7-day advances on call for tenders and 15 MMDH in the form of repurchase agreements during the same period. Similarly, 28.5 MMDH were injected as part of the support programs for SME financing.

On the interbank market, the average daily trading volume stood at 4.7 billion. As for the interbank rate, it stood at an average of 1.5%. At the call for tenders on April 7 (value date April 8), the central bank injected an amount of 25.5 billion dirhams in the form of 7-day advances, it is specified.