The dirham appreciates by 0.18% against the euro between May and June

The dirham remained almost unchanged against the US dollar and appreciated by 0.18% against the euro between May and June 2022, according to Bank Al-Maghrib (BAM).

“Between May and June 2022, the euro depreciated by 0.16% against the US dollar. On the national foreign exchange market, the dirham remained virtually unchanged against the dollar and appreciated by 0.18% against the euro,” indicates the Central Bank in its recent Monthly review of the economic, monetary and financial situation. As for BAM’s foreign currency auction operations with banks, no session has been held since December 2021, adds the same source.

At the level of the interbank market, the volume of exchanges of currencies against dirhams stood at 33.7 billion dirhams (MMDH) in May 2022, up by 15.1 billion dirhams from one year to another.

Regarding bank transactions with customers, their volume stood at 32.5 billion dirhams for cash purchases and 24.6 billion dirhams for those in the long term, against respectively 28.9 billion dirhams and 16.3 billion dirhams a year earlier. .

As for sales, they involved an amount of 40.3 billion dirhams for cash transactions and 5.1 billion dirhams for those in the long term, after 29.1 billion dirhams and 2.2 billion dirhams respectively.

The net foreign exchange position of banks showed a deficit of 3.4 billion dirhams at the end of May, after 3.7 billion dirhams at the end of April.

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