The Moroccan dirham depreciated by 0.9% against the US dollar and by 0.2% against the euro during the period from August 27 to September 2, according to Morocco’s central bank, Bank Al-Maghrib (BAM).
During this period, no tender operations were conducted on the foreign exchange market, BAM indicated in its recent weekly indicators report.
Official reserve assets stood at 500.1 billion dirhams as of August 28, up 0.2% compared to the previous week and 21.8% year-on-year.
Regarding BAM’s interventions, they averaged 154.9 billion dirhams daily over the same period. This volume was distributed between 7-day advances (59.5 billion dirhams), longer-term repurchase agreements (48.5 billion dirhams), and guaranteed loans (46.9 billion dirhams).
On the interbank market, the average daily trading volume stood at 3.5 billion dirhams, and the interbank rate was 2.25%.
During the September 2 call for tenders (value date September 3), the Central Bank injected 55.7 billion dirhams in the form of 7-day advances.
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