Legal tender has strengthened on the foreign exchange market.

If the dirham remained almost stable against the euro and appreciated by 0.8% against the US dollar during the period from December 24 to 30, 2020, according to Bank Al-Maghrib (BAM ).

During this period, no auction operations were carried out on the foreign exchange market, indicates BAM in its bulletin of the weekly indicators.

The Central Bank injected, from December 24 to 30, a total of 89.5 billion dirhams, including 44 billion dirhams in the form of 7-day advances on call for tenders, 15.3 billion dirhams in the form of repo transactions, 25.2 billion dirhams as part of support programs for the financing of very small, small and medium-sized enterprises (TPME) and 5 billion dirhams under foreign exchange swap transactions.

On the interbank market, the average daily volume of trade stood at 5.1 billion dirhams and the interbank rate stood at 1.5% on average. During the December 30 call for tenders (value date December 31), BAM injected an amount of 44.7 billion dirhams in the form of 7-day advances.