The Moroccan dirham appreciated by 0.6 percent against the US dollar and depreciated by 0.3 percent against the euro during the week of July 17 to 23, 2025, according to Bank Al-Maghrib.
The central bank conducted no foreign exchange auction operations over this period, while official reserve assets stood at 405.2 billion dirhams on July 18, up 0.5 percent weekly and 11.9 percent year-on-year.
BAM’s average daily interventions reached 128 billion dirhams, including 49.5 billion in 7-day advances, 44 billion in longer-term repos, and 34.5 billion in guaranteed loans. Interbank trading averaged 3.5 billion dirhams per day at a stable rate of 2.25 percent.
A liquidity injection of 51.4 billion dirhams was made on July 23.
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