Bank Al-Maghrib reported that the exchange rate of the dirham improved by 0.30 percent against the euro, and decreased by 0.98 percent against the US dollar, during the period between July 7 and 13.
The Central Bank highlighted, in its weekly note, that during this period no tender process was conducted in the exchange market.
It pointed out that on July 8, the official reserve assets stabilized at 325.4 billion dirhams, a decrease of 0.6 percent from one week to another, and an increase of 7.9 percent on an annual basis.
Bank Al-Maghrib said that, in the same period, it pumped 107.5 billion dirhams, including 45.3 billion dirhams in the form of 7-day advances based on a request for offers, 37.6 billion dirhams in the form of buy-back operations, and 23.7 billion dirhams in the framework of the program to support very small, small and medium enterprises.
At the level of the banking market, the same source stated that the average daily trading volume stabilized at 2.6 billion dirhams, while the banking rate during this period averaged 1.5 percent, adding that Bank Al-Maghrib pumped 52.1 billion dirhams in advances for 7 days.
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