Global Economy
Moroccan Central Bank Reports Reserve Assets at DH 496.8bn, Dirham Slightly Weaker in Mid‑July
Bank Al-Maghrib disclosed that its official reserve holdings reached DH 496.8 billion as of July 17, up 0.3% from the previous week and 22.6% year‑on‑year. During the week of July 16‑22, the dirham slipped 0.4% against the euro and 0.5% versus the US dollar, with no foreign‑exchange auctions conducted. Monetary operations averaged DH 150.4 billion per day, split among short‑term advances, longer‑term repos, and secured loans.
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Reserve Assets Reach DH 496.8 Billion
Bank Al-Maghrib (BAM) reported that its official reserve holdings stood at DH 496.8 billion as of July 17. This marks a 0.3 % increase over the previous week and a robust 22.6 % rise year‑on‑year.
Dirham Performance
During the week of July 16‑22, the Moroccan dirham depreciated 0.4 % against the euro and 0.5 % against the US dollar. No foreign‑exchange auctions were carried out in this period, according to BAM’s weekly indicators bulletin.
Monetary Operations
BAM’s interventions averaged DH 150.4 billion per day during the same week. The daily volume was split among:
- 7‑day advances: DH 55.4 billion
- Long‑term repos (pensions delivered): DH 49.6 billion
- Secured loans: DH 45.4 billion
Interbank Market Activity
The interbank market saw an average daily turnover of DH 3.9 billion, with the interbank rate settling at 2.25 %.
Weekly Auction Insight
At the auction held on July 22 (value date July 23), the central bank injected DH 44.1 billion in the form of 7‑day advances.