Morocco’s Official Reserve Assets Up 10%

Rabat — Morocco’s official reserve assets amounted to 331.2 billion Dirhams on July 15, 2022, up by 10% compared to the same period in 2022, Morocco’s Central Bank (Bank Al-Maghrib, BAM) has said.

During the week of July 14-20, 2022, the Dirham appreciated by 1.14% against the Euro and depreciated by 1.14% against the U.S. Dollar, according to BAM’s weekly indicators bulletin.

No auction operations were carried out on the foreign exchange market during this period.

Bank Al-Maghrib injected 114.3 billion dirhams, including 52.1 billion dirhams in the form of 7-day advances on call for tenders and 23.7 billion dirhams in the framework of support programs for the financing of very small, small and medium businesses, according to the same source.

On the stock market, the MASI increased by 1.3%, bringing its counter-performance since the start of the year to 10.6%.

The average daily volume on the central stock market reached 48.1 million dirhams against MAD 74.8 million a week before.

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