Moroccan Dirham Weakens Against Euro, Official Reserves Rise to 356.5 Billion

29 October 2023 – bySaid@Bladi · 1 min read

The Moroccan currency depreciated by 0.21% against the euro, and remained almost stable against the US dollar during the period of October 19 to 25, according to Bank Al-Maghrib (BAM).

During this period, no foreign exchange auction was carried out, BAM said in its latest weekly bulletin.

As of October 20, 2023, the official reserve assets stood at 356.5 billion dirhams (MMDH), up 1% from the previous week and 5.6% year-on-year.

During this week, Bank Al-Maghrib’s interventions averaged 108 MMDH per day, divided between 7-day advances for an amount of 42.2 billion and long-term repurchase agreements and guaranteed loans for outstanding amounts of 39.8 billion and 26 billion respectively.

On the central equity market, the average daily volume amounted to 123.2 MDH, after 184 MDH.

Category: Economy

Keywords:

Bank Al-Maghrib Moroccan Dirham Euro