Between June and July, the Moroccan dirham appreciated by 0.75% against the US dollar while remaining nearly stable against the euro, according to Bank Al-Maghrib (BAM).
In its latest monthly review of economic, monetary, and financial conditions, BAM noted that there have been no currency auction sessions since December 2021.
On the interbank market, the volume of currency exchanges against the dirham reached 47.5 billion dirhams in June 2024, representing a 22% decrease compared to June 2023.
Regarding bank operations with clients, the volume of spot purchases in June amounted to 32.9 billion dirhams, down slightly from 34.1 billion dirhams in the same month last year. Forward purchases remained almost unchanged at 15.9 billion dirhams.
As for sales, the figures stood at 32.2 billion dirhams for spot transactions and 2.5 billion dirhams for forward transactions, compared to 35.7 billion dirhams and 2.6 billion dirhams, respectively, in the previous year.
