The Moroccan dirham dropped by 1.75% against the US dollar and by 1.04% against the euro between September and October 2022, according to Bank Al-Maghrib (BAM).
No currency auctions have been held since December 2021, added the same source in its recent monthly data.
On the interbank market, the volume of currency exchanges against dirhams reached MAD 56.1 billion in October 2022, up compared to MAD 43.8 billion recorded during the same period a year earlier, further stated the same source.
Regarding operations of banks with customers, their volume totaled MAD 35.7 billion for cash purchases and MAD 27.4 billion for forward purchases, against respectively MAD 28.5 billion and MAD 13.5 billion a year earlier, specified the same source.
Sales reached MAD 39.5 billion for spot operations and MAD 8.5 billion for forward operations, after MAD 28.3 billion and MAD 3.8 billion recorded respectively, added the same source.
The net foreign exchange position of banks was in deficit at the end of October at MAD 1.4 billion, remaining unchanged since last month, according to the same source.
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