The Moroccan currency appreciated by 0.87% against the euro and depreciated by 0.48% against the dollar during the period from 17 to 23 September 2020, notes Bank Al-Maghrib (BAM)

 

No auction operations were carried out on the foreign exchange market during this period, BAM says in its latest weekly indicator bulletin. Official reserve assets as at September 18, 2020 stood at 299.1 billion dirhams, up 0.8% week-on-week and 26.8% year-on-year.

From 17 to 23 September, the central bank injected a total of 106.2 billion dirhams, including 24.6 billion dirhams in the form of seven-day advances on a call for tenders, 41.8 billion dirhams in the form of private repo operations, 33.9 billion dirhams for the program to support the financing of the MSME and 5.9 billion dirhams for foreign exchange swap operations.

As for the overall volume of trade, it amounted to 232.7 million (MAD) after 330.9 MAD a week earlier. On the central equity market, the average daily volume stood at 39.4 million dirhams against 63.9 million dirhams a week earlier, reports La Map.

As of September 25, the US dollar was worth 9.292 while the euro was trading at 10.811.

Tags: Flexibility of dirham , Dollar , Euro , Bank Al-Maghrib (BAM)