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Tuesday, July 16, 2024

Morocco’s Official Reserve Assets Up 8.3%

Morocco’s official reserve assets amounted to 338.4 billion Dirhams on August 26, 2022, up by 8.3% compared to the same period in 2021, Morocco’s Central Bank (Bank Al-Maghrib, BAM) has said.

During the week of August 25-31, 2022, the Dirham depreciated by 0.83% against the Euro and 0.29% against the U.S. Dollar, 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 100.8 billion dirhams, including 36.4 billion Dirhams in the form of 7-day advances on call for tenders and 24.6 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 2.4 billion Dirhams and the interbank rate stood at 1.5% in average.

On the stock market, the MASI decreased  by 0.5%, bringing its counter-performance since the start of the year to 9.2%.

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