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Tuesday, July 16, 2024

Morocco’s Official Reserve Assets Up 10.1%

Morocco’s official reserve assets amounted to 331.1 billion Dirhams on August 05, 2022, up by 10.1% compared to the same period in 2021, Morocco’s Central Bank (Bank Al-Maghrib, BAM) has said.

During the week of August 04-10, 2022, the Dirham appreciated by 0.28% against the U.S. Dollar and depreciated by 0.12% against the Euro, according to BAM’s weekly indicators bulletin.

No auction operations were carried out on the foreign exchange market during this period.

Bank Al-Maghrib injected 108 billion dirhams, including 42.3 billion Dirhams in the form of 7-day advances on call for tenders and 27.1 billion Dirhams in the framework of support programs for the financing of very small, small and medium businesses, according to the same source.

On the interbank market, the average daily volume of trade stood at 2.7 billion Dirhams and the interbank rate stood at 1.5% in average.

On the stock market, the MASI increased by 1.3%, bringing its counter-performance since the start of the year to 10.3%.



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