In its latest weekly bulletin, Bank Al-Maghrib said the Moroccan dirham experienced a significant upswing from July 20 to 26.
The national currency rose by 2.1 percent against the euro and by 0.6 percent against the US dollar, indicating a positive trend in the foreign exchange market.
During this period, no bidding took place in the exchange market, as stated by the central bank. This lack of bidding further solidified the stability of the currency during the week.
The country’s official reserve assets reached a total of 344.3 billion dirhams on July 21. This figure reflected a 0.2 percent increase from the previous week and a substantial 5.5 percent growth on an annual basis.
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