The Moroccan dirham appreciated 0.8% against the U.S. dollar while depreciating 0.6% against the euro during the period from July 30 to August 5, according to Bank Al-Maghrib (BAM).
In its latest weekly indicators report, the central bank said no foreign exchange auction operations were conducted during the period.
Morocco’s official reserve assets stood at MAD 498 billion as of July 31, up 0.2% from the previous week and 22.7% higher than a year earlier.
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BAM’s liquidity support to the banking system averaged MAD 149.3 billion per day during the week. The total included MAD 53.9 billion in seven-day advances, MAD 47.9 billion in longer-term repurchase agreements, and MAD 47.5 billion in secured loans.
On the interbank market, the average daily trading volume reached MAD 2.6 billion, while the weighted average interbank interest rate remained unchanged at 2.25%.
As part of its latest liquidity injection, the central bank allocated MAD 49.4 billion in seven-day advances during its August 5 tender operation, with the value date set for August 6.
