Morocco’s dirham appreciated by 0.9% against the euro but weakened by 0.3% against the US dollar between November 5 and 11, according to Bank Al-Maghrib’s latest weekly financial indicators.
The central bank reported that Morocco’s official reserve assets reached MAD 515.6 billion as of November 5, increasing 0.2% from the previous week and 19.4% compared with the same period last year.
Bank Al-Maghrib conducted no foreign-exchange auction operations during the reporting period.
Its interventions in the money market averaged MAD 147.6 billion daily, comprising MAD 51.3 billion in seven-day advances, MAD 46.3 billion in longer-term repurchase agreements and MAD 50 billion in secured loans.
Meanwhile, average daily interbank trading stood at MAD 4.1 billion, with the interbank interest rate at 2.25%.
During its November 11 tender, the central bank injected MAD 56.9 billion into the banking system through seven-day advances, effective November 12.
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