The Moroccan dirham dropped by 2.1% against the euro, and 3.26% against the US dollar, said Bank Al-Maghrib (BAM) in its recent weekly bulletin for the period from March 3 to 9,
The Central Bank specified that during this period, no auction operation was carried out on the foreign exchange market.
As of March 4, official reserve assets stood at MAD337.3 billion, up 1.2% week-on-week, and 9.5% year-on-year.
During the same period, BAM totaled MAD78.3 billion in terms of operations, including MAD36.2 billion in the form of 7-day advances on calls for tenders, MAD21.5 billion in the form of pension delivered, and MAD20.6 billion as part of support programs for the financing of micro, small and medium-sized enterprises (TPME).
On the interbank market, the average daily volume of trade reached MAD3.7 billion, and the interbank rate stood at an average of 1.50% during this period, specified the bulletin, adding that during the call for tenders of March 9 (value date March 10), BAM injected an amount of MAD34.5 billion in the form of 7-day advances.
On the stock market, the Masi recorded a drop of 0.8% during this period.
The overall volume amounted to nearly MAD757 million, and the market capitalization exceeded MAD659.35 billion, added the same source.
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