Banks’ liquidity shortfall eased slightly in July, averaging MAD 125.7 billion per week compared with MAD 127.3 billion in June, according to the latest economic update from the Directorate of Financial Studies and Forecasts (DEPF).
Bank Al-Maghreb reduced its liquidity injections over the same period, with the weekly average falling to MAD 144.1 billion from MAD 152.4 billion a month earlier.
Seven-day advances accounted for MAD 48.9 billion of those interventions, while one- and three-month repo operations also stood at MAD 48.9 billion.
A further MAD 46.2 billion was provided through guaranteed loans under financing support programs for very small, small and medium-sized enterprises.
Interbank activity, meanwhile, increased sharply in July. The average volume of transactions rose 52.8% from June to MAD 3.3 billion.
The weighted average overnight interbank rate remained broadly stable at 2.25%, in line with the key interest rate, continuing the trend observed since March 20, 2025.
