The dirham appreciated by 0.26% against the euro and depreciated by 0.51% against the U.S. dollar, during the period from 25 to 31 March 2021. This is what the indicators published by Bank Al-Maghrib (BAM) indicate.
During this period, no auction operation was carried out on the foreign exchange market, says the central bank, while specifying that on March 26, 2021, the outstanding official reserve assets, stood at 306.7 billion dirhams (MMDH), down 0.3% from one week to another, and up 19.6% year-on-year.
BAM reported that it injected an amount of 72.2 billion dirhams, including 28.6 billion dirhams in the form of 7-day advances on tender and 15 billion dirhams in the form of repurchase agreements during the same period. Similarly, 28.5 billion dirhams were injected in the framework of programs to support the financing of SMEs.
On the interbank market, the average daily volume of trade was 5.5 billion. The interbank rate averaged 1.5%. In the March 31 tender (value date April 1ᵉʳ), the central bank injected an amount of 35.5 billion dirhams in the form of 7-day advances, it says.
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