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Foreign exchange market: Bank Al-Maghrib announces a depreciation of the Dirham

06/01/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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The Dirham depreciated by 0.5% against the American dollar and by 0.6% against the euro during the period from December 26 to 31, 2024, during the period from 26 to 31 December 2024, according to Bank Al-Maghrib (BAM). During this period, no auction transactions were carried out on the foreign exchange market, states BAM in its

weekly bulletin.

As of December 27, 2024, official reserve assets stood at 375.2 billion MAD (BMDH), up 0.6% from one week to the next and 4.6% year-on-year.

During the week from December 26 to January 1, 2025, the daily average volume of BAM interventions was MAD 156.6 billion. It is divided between 7-day advances (MAD 72.6 billion), pensions delivered over a longer term (MAD 49.6 billion) and guaranteed loans (MAD 34.4 billion)

.

On the interbank market, the average daily trade volume was 5 billion and the interbank rate averaged 2.51%.

During the call for tenders on January 02 (value date on January 02), the Bank injected an amount of MAD 60.2 billion in the form of 7-day advances.

On the stock market, MASI depreciated by 1.1% from December 26 to 31, bringing its performance since the start of the year to 22.2%.

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