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Wednesday, December 7, 2022

Morocco’s Official Reserve Assets Up 9.3%

Morocco’s official reserve assets amounted to 340.8 billion Dirhams on September 16, 2022, up by 9.3% compared to the same period in 2021, Morocco’s Central Bank (Bank Al-Maghrib, BAM) has said.

During the week of September 15-21, 2022, the Dirham appreciated by 1.16% against the Euro and by 0.26% 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 101.7 billion Dirhams, including 37.3 billion Dirhams in the form of 7-day advances on call for tenders and 24.6 billion Dirhams in the form of secured long-term loans, 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% on average.

On the stock market, the MASI increased by 0.7%, bringing its counter-performance since the start of the year to 8.4%.

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