Moroccan Dirham Weakens Against Euro, Gains on Dollar in Latest Currency Fluctuations
The Moroccan currency appreciated by 0.28% against the US dollar and depreciated by 0.16% against the euro during the period from July 29 to August 4, 2021. This is according to the indicators published by Bank Al-Maghrib (BAM).
During this period, no auction operations were carried out on the foreign exchange market, BAM indicates, while specifying that as of July 29, 2021, the outstanding official reserve assets stood at 300.9 billion dirhams (MMDH), a slight week-on-week decrease of 0.1% and an increase of 3.1% year-on-year.
BAM reports that an amount of 99.4 MMDH was injected, including 42 MMDH in the form of 7-day advances on a call for tenders and 29.8 MMDH in the form of repurchase operations, during the same period. Similarly, 27.5 MMDH were injected under the TPME financing support programs.
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