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Moroccan Central Bank Reports 22.7% Surge in Official Reserves, Dirham Gains Against Dollar
Bank Al-Maghrib announced that its official reserve assets reached 498 billion dirhams as of July 31, marking a 22.7 % increase year‑on‑year. During the week of July 30 to August 5, the dirham appreciated 0.8 % against the US dollar while weakening 0.6 % against the euro, and the central bank carried out no spot‑market auctions. The report also details daily average advances, long‑term operations and inter‑bank market activity, providing a clear snapshot of Morocco’s monetary stance.
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Currency Movements
The Moroccan dirham gained 0.8 % against the US dollar while losing 0.6 % against the euro over the week of July 30 – August 5, 2026, according to the latest Bank Al-Maghrib weekly bulletin.
Official Reserve Assets
At the close of July 31, official reserve assets stood at 498 billion dirhams (MMDH), up 0.2 % from the previous week and a robust 22.7 % higher than a year earlier.
Central Bank Operations
During the same period, the central bank’s average daily operations totaled 149.3 MMDH. This volume was split among:
- 7‑day advances: 53.9 MMDH
- Long‑term delivered pensions: 47.9 MMDH
- Secured loans: 47.5 MMDH
Inter‑bank Market Activity
The inter‑bank market saw a daily average transaction volume of 2.6 MMDH, with the inter‑bank rate settling at 2.25 %.
Recent Auction (5 August 2026)
In the auction dated August 5 (value date August 6), the central bank injected 49.4 MMDH through 7‑day advances.