Here are five key points from Bank Al-Maghrib (BAM) weekly indicators for the period from January 26 to February 1, 2023:
1- The dirham depreciated by 0.34% against the US dollar and by 0.57% against the euro.
2- During this period, no auction operation was carried out on the foreign exchange market.
3- As of January 27, official reserve assets (AOR) stood at 334.6 billion dirhams (MMDH), stable from one week to another and up 1.3% year-on-year.
4- The overall outstanding balance of BAM’s interventions came to 85.4 billion dirhams, including 38.1 billion dirhams in the form of 7-day advances on calls for tenders, 23.5 billion dirhams of long-term repos, 23, 2 billion dirhams in long-term guaranteed loans and 3.9 billion dirhams in the form of 24-hour advances.
5- During the February 1 call for tenders (value date February 2), BAM injected 43.2 billion dirhams in the form of 7-day advances.