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Currency: the Dirham depreciates against the US dollar and the euro

09/02/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Bank Al-Maghrib (BAM) announced that during the period from January 26 to February 1, 2023, the dinar depreciated by 0.34% against the US dollar and by 0.57% against the euro.

During the period January 26 to February 1, 2023, there were no adjudication was not carried out on the foreign exchange market according to the recent BAM weekly bulletin. Indeed, official reserve assets (AOR) stood at 334.6 billion dirhams (MMDH), stable from one week to the next and up 1.3% year-on-year as of January 27, according to the source. The total amount of assistance received from Bank Al-Maghrib (BAM) was 85.4 billion dirhams, including 38.1 billion dirhams in the form of 7-day advances following a call for tenders, 23.5 billion dirhams in long-term pensions, 23.2 million dirhams MMDH long-term guaranteed loans and 3.9 MMDH in the form of 24-hour advances during this week.

The average daily trading volume was 6.7 billion dirhams on the interbank market and the interbank rate averaged 2.5% during this period. During the call for tenders on 1 February (value date 2 February), BAM injected 43.2 billion DH in the form of 7-day advances.

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