Research & Analysis

The Dirham has appreciated this week against the Dollar after four successive weeks of MAD depreciation. Indeed, the pair USD/MAD stands at 9.23, a decrease of -0.17% during the past week.

The MAD depreciates for the fourth week in a row against the dollar, given a restrictive market effect. This week, we saw a significant drop in liquidity conditions on the interbank market.

The dirham depreciates for the third consecutive week against the dollar, following the uptrend of the greenback internationally. Thus, the pair USD/MAD stands at 9.20, an annual high.

The dirham is depreciating this week against the dollar given the greenback's bullish stance internationally.

Moroccan banks do not to subscribe to BAM's currency buyback operations for the second week in a row, following calls for tenders on the interbank foreign exchange market.

During the last auction session in the interbank foreign exchange market, Bank Al-Maghrib did not carry out any transactions on the MAD.

Moroccan banks do not to subscribe to BAM's currency buyback operations for the second week in a row, following calls for tenders on the interbank foreign exchange market.

Taking into account $ 88 Mn BAM currency buyback program from local banks this week, the cumulative amount of interventions on the interbank foreign exchange market since last September stands at MAD 6.8 Bn.

Following currency buyback operations carried out last week by BAM at the level of the interbank foreign exchange market, the banks' foreign exchange position remains in surplus at more than MAD 3 Bn.