Bank Al-Maghrib (BAM) announced that the Dirham depreciated by 0.4% against the Euro and by 0.5% against the US Dollar during the week of 22 to 28 May.

During the period from 22 to 28 May, no auction transactions were carried out on the foreign exchange market. Official reserve assets (AOR) stood at 400.8 billion dirhams (BMDH) as at 23 May, up 1.1% from one week to the next and 8.3% year-on-year, according to the recent BAM Weekly Indicators Bulletin. As for the volume of interventions by BAM, from 22 to 28 May, it amounted to 121 billion MAD on a daily average. This volume is divided between 7-day advances for an amount of MAD 42.6 billion, pensions delivered over a longer term (MAD 44.6 billion) and guaranteed loans (MAD 33.9 billion), reports the MAP. On the interbank market, the average daily trade volume was 3 billion MAD and the interbank rate was 2.25% on