Morocco’s Foreign Exchange Reserves Hit Record High, Up 8.1% Year-on-Year

During this period, the average outstanding amount of repos and reverse repos with the Treasury increased from 2.2 MMDH to 9.3 MMDH, thus continuing its downward trend in the placement of its cash surpluses, indicates AGR in its recent note "Weekly Hebdo Taux - Fixed Income".

As for the MONIA index, it fell by one basis point compared to the previous week, to 1.42%. BAM’s interventions continue in the money market through its liquidity injections in order to maintain interbank rates at the level of the Key Rate, the same source points out.

The central bank thus satisfies the entire banking demand by reducing its 7-day advances by 1.8 MMDH. These stood at 34.5 MMDH. Long-term operations, including repos and guaranteed loans, remain stable at 42.1 MMDH.