Bank Al-Maghrib (BAM) reported that during the month of June, the dirham appreciated by 0.54% against the dollar and 0.84% against the euro.
In the monthly review of the economic, monetary and financial situation for July 2023, the Central Bank specifies that with regard to Bank Al-Maghrib’s foreign currency auction operations with banks, no session has been held since December 2021.
At the level of the interbank market, the volume of exchanges of currencies against dirhams stood at 70.2 billion dirhams (MMDH) in May 2023, up by 36.5 billion dirhams from one year to another.
Regarding bank transactions with customers, their volume stood at 33.2 billion dirhams for cash purchases and 18 billion dirhams for those in the long term, against respectively 32.4 billion dirhams and 24.6 billion dirhams a year earlier.
As for sales, they amounted to 33.3 billion dirhams for spot transactions and 2.5 billion dirhams for forward transactions, after 40.3 billion dirhams and 5.1 billion dirhams respectively.