Here are five key points from Bank Al-Maghrib’s (BAM) weekly indicators for the period from February 24 to March 2:
1 The dirham appreciated by 0.36% against the euro and depreciated by 1.86% against the US dollar.
2 No auction operation was carried out within the framework of the foreign exchange auctions organized by BAM.
3 As of February 25, 2022, official reserve assets stood at 333.4 billion dirhams (MMDH), up 0.2% week-on-week and 8.1% year-on-year.
4 The overall outstanding amount of Bank Al-Maghrib interventions amounts to 75.2 billion dirhams (MMDH), including 33.1 billion dirhams in the form of 7-day advances on call for tenders, 21.5 billion under form of repurchase agreements and 20.6 billion under the support program for the financing of very small, small and medium-sized enterprises (TPME).
5 On the interbank market, the average daily volume of trade stood at 4.7 billion dirhams and the interbank rate stood at 1.5% on average during this period.