Bank Al-Maghrib reported that the exchange rate of the dirham improved by 0.20 percent against the euro, and by 0.56 percent against the US dollar between June 16 and 22.
The Central Bank highlighted, in its last note on weekly indicators that in this period no bidding process was conducted in the exchange market.
The same source indicated that the official reserve assets stabilized, on June 17, at 323.3 billion dirhams, an increase of 0.8 percent week on week, and 7.4 percent on an annual basis.
Bank Al-Maghrib recorded that it injected, in the same period, 96.5 billion dirhams, of these, 44.9 billion dirhams are in the form of 7-day advances based on a request for bids, 29.1 billion dirhams in the form of buy-back operations, 22.2 billion dirhams in the framework of the program to support the financing of very small, small and medium enterprises, and 250 million dirhams in the form of swap operations.
Average daily trading volume settled at 2.8 billion dirhams, while the banking rate during this period averaged 1.50 percent, according to BAM.
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