The dirham appreciated by 0.85% against the US dollar and by 0.26% against the euro, during the September 19-25 period, according to Morocco’s Central Bank, Bank Al-Maghrib (BAM).
During this period, no auctions were conducted in the foreign exchange market, the central bank said in its recent weekly bulletin.
As of September 20, 2024, official reserve assets stood at 364.4 billion dirhams, down 0.5% week-on-week, and up 2.2% year-on-year, the same source added.
During the same period, the total outstanding amount of BAM’s interventions amounted to 148.1 billion dirhams, including 64.5 billion dirhams in the form of 7-day advances on tender, 48.4 billion dirhams in long-term repurchase agreements, and 35.2 billion dirhams in long-term guaranteed loans.
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