The Moroccan dirham rose by 1.26% against the dollar and 1.39% against the euro.
- The Moroccan dirham rose by 1.26% against the US dollar this week.
- The dirham increased by 1.39% against the euro during the same period.
- Current exchange rates are 9.71 dirhams per dollar and 10.92 dirhams per euro.
- Official reserves totaled 53 billion dollars, marking a 22.6% annual increase.
Moroccan Dirham Sees Notable Gains Against Major Currencies
The Central Bank of Morocco has announced a 1.26% increase in the exchange rate of the Moroccan dirham against the US dollar and a 1.39% rise against the euro during the period from October 8 to October 14.
Current Exchange Rates
According to the central bank, the exchange rate for the US dollar reached 9.71 dirhams, while the euro stood at 10.92 dirhams. The bank confirmed that no auction operations occurred in the currency market during this timeframe.
Official Reserves and Market Interventions
The bank reported that official reserve assets totaled 53 billion dollars, reflecting a slight decrease of 0.1% compared to the previous week. However, this figure represents a significant annual increase of 22.6%.
Additionally, the average interventions by the Central Bank of Morocco in the money market amounted to 15.2 billion dollars. The average interbank interest rate remained stable at 2.25%.
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