The Moroccan dirham strengthened against the US dollar but lost ground against the euro during the week of Aug. 13-19, while the country’s official reserve assets remained close to the MAD 500 billion mark, according to the latest weekly indicators from Bank Al-Maghrib (BAM).
The dirham appreciated by 0.3% against the US dollar over the period while depreciating by 0.5% against the euro, the central bank said.
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Morocco’s official reserve assets stood at MAD 499.6 billion as of Aug. 13, down 0.2% from the previous week but 22.4% higher than a year earlier.
The year-on-year increase leaves the Kingdom’s foreign reserves at historically elevated levels and provides an important buffer for external payments and financial stability.
