Moroccan Dirham Weakens Against Dollar and Euro in Latest Trade Period

The Moroccan dirham experienced a slight decline against major currencies in the week ending September 2. According to Bank Al-Maghrib's weekly indicators bulletin, the dirham weakened by 0.9% against the US dollar and 0.2% against the euro between August 27 and September 2.

The central bank conducted no foreign exchange auctions during this period, but its interventions averaged 154.9 billion dirhams per day. This comprised 59.5 billion dirhams in seven-day advances, 48.5 billion dirhams in longer-term repurchase agreements, and 46.9 billion dirhams in secured loans.

Meanwhile, Morocco's official reserve assets reached 500.1 billion dirhams as of August 28, representing a 0.2% increase from the previous week and a 21.8% rise from a year earlier.