March 26, 2024 – 07:00 – Economy
The Moroccan dirham appreciated slightly against the euro in the week of March 14 to 20, 2024, with an appreciation of 0.48%. However, against the dollar, the dirham fell by 0.29%, Bank Al-Maghrib reported.
No auctions took place on the foreign exchange market during this period. Morocco’s official reserves stood at 360.4 billion dirhams as of March 15, down 0.7% in a week and 0.9% in a year.
Also read: This is what the new 200 dirham note looks like (photos)
Bank Al-Maghrib’s interventions averaged 127.9 billion dirhams per day. These consisted of 7-day advances of 46.9 billion dirhams, long-term installments of 52.9 billion dirhams and guaranteed loans of 28.1 billion dirhams.
In the interbank market, the average daily trading volume fell to 1.7 billion dirhams and the interbank interest rate remained at an average of 3%.
Also read: Morocco ready for flexible dirham
Weekly trading volume on the exchange rose from 401.2 million dirhams to 956.5 million dirhams, with most activity in the central stock market.
