The Moroccan dirham weakened by 0.9% against the US dollar and 0.2% against the euro between Aug. 27 and Sept. 2, Bank Al-Maghrib said in its weekly indicators bulletin.
The central bank conducted no foreign exchange auctions during the period.
Morocco’s official reserve assets reached 500.1 billion dirhams as of Aug. 28, rising 0.2% from the previous week and 21.8% from a year earlier.
Bank Al-Maghrib’s interventions averaged 154.9 billion dirhams per day, comprising 59.5 billion dirhams in seven-day advances, 48.5 billion dirhams in longer-term repurchase agreements and 46.9 billion dirhams in secured loans.
Average daily trading on the interbank market stood at 3.5 billion dirhams, while the interbank rate remained at 2.25%.
In its Sept. 2 tender, with settlement the following day, the central bank provided 55.7 billion dirhams through seven-day advances.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.