Moroccan Dirham Falls Against Dollar Amid Central Bank Interventions

The Moroccan dirham has weakened by 1% against the U.S. dollar and 0.2% against the euro over the past week, according to data from Bank Al-Maghrib.

No foreign-exchange auction operations were conducted during this period, and official reserve assets stood at approximately 500.2 billion Moroccan dirhams as of September 11, down 0.4% from the previous week but 20.9% higher year-on-year.

Bank Al-Maghrib's average daily interventions in the money market reached around 150 billion dirhams, with a significant portion being seven-day advances and longer-term repurchase operations.