The Moroccan Dirham rose by 0.99% against the Euro and dropped by 0.89% against the Dollar in the period between June and July.
According to Bank Al Maghrib, currency exchanges against the dirham, at the level of the banking market, amounted to MAD11.2 billion last July, a decrease of MAD7.4 billion compared to the same month of the previous year.
As for bank operation with customers, they reached a total of MAD22.1 billion for cash purchases and MAD13.1 billion for their term counterparts, compared to MAD18.9 billion and MAD12 billion respectively, last year.
Cash sales amounted to MAD25.4 billion, while term sales amounted to MAD2 billion.
Bank Al-Maghrib also reported that banks’ net exchange amounted to MAD3.6 billion at the end of last July, compared to a negative balance of MAD1.8 dirhams at the end of last June.
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