Bank Al-Maghrib reported that the Moroccan dirham rose by 0.36% against the euro and 0.18% against the US dollar from 6 to 12 April.
Bank Al-Maghrib stated, in its latest weekly bulletin, that during this period no bidding process was conducted in the exchange market.
The same source added that the official reserve assets amounted to 361.5 billion dirhams on April 7, 2023, an increase of 0.1% from one week to the next, and by 9.8% on an annual basis.
During the same period, Bank Al-Maghrib’s total interventions amounted to 77.4 billion dirhams, including 43.4 billion dirhams in the form of 7-day advances based on a request for offers, 16.4 billion dirhams in the form of long-term repurchases, and 17.6 billion dirhams in the form of long-term secured loans.
On the inter-bank market, the average daily trading volume amounted to 3.3 billion dirhams, while the inter-bank interest rate, during this period, reached an average of 3%.
During a request for offers dated April 12th (due date April 13th), Bank Al-Maghrib injected a total of 44.3 billion dirhams in the form of 7-day advances.
For the stock market, the MASI index rose by 0.1%, bringing its negative performance since the beginning of the year to 2.1%, according to Bank Al-Maghrib.
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