Moroccan Dirham Edges Up Against Euro and Dollar, Reserves Rise
The dirham remained virtually stable against the euro during the week of December 20 to 24, according to Bank Al-Maghrib (BAM).
By Said A.
During this period, the Moroccan currency appreciated by 0.12% against the European currency and 0.06% against the dollar, according to a note on the weekly indicators published by BAM.
As of December 21, net international reserves stood at 228.2 billion dirhams (MMDH), up 0.7% from the previous week, while year-on-year they show an increase of 4.6%.
As for interventions in the money market, BAM injected a total of 65.3 MMDH, including 63 MMDH in the form of 7-day advances on tenders and 2.3 MMDH granted under the TPME financing support program.
