The Dirham appreciates 1.42% against the Euro

The Dirham appreciates 1.42% against the Euro
The Dirham appreciates 1.42% against the Euro

The dirham appreciated 1.42% against the euro and depreciated 0.78% against the US dollar during the third quarter of this year, according to Bank Al-Maghrib (BAM ).

Compared to the currencies of the main emerging countries, the national currency appreciated by 1.11% against the Turkish lira and depreciated by 0.60% against the Chinese yuan, says BAM in its latest policy report. monetary.

Regarding the effective exchange rate, it appreciated 0.99% in nominal terms and 0.83% in real terms in the second quarter, adds the Central Bank.

Regarding currency transactions, the average volume of cash transactions of banks with customers increased by 53% to 29.7 billion dirhams (billion dirhams) for sales and 58.6% to 28.8 MMDH for purchases.

At the same time, forward purchases rose 109.5% to MAD 16.8 billion and forward sales fell 4.6% to MAD 2.8 billion, the report said.

In addition, the report notes that the latest available data relating to the months of July and August show an increase of 28.6% to 27.6 billion dirhams on average in the volume of cash transactions for sales and of 34.2% at 24 , MAD 3 billion for purchases.

Regarding forward transactions, their average volume fell by 29% to 1.7 billion dirhams for sales and increased by 28.6% to 13 billion dirhams for purchases.

During the currency purchase auctions from September 20 to 22, the Central Bank withheld a total amount of $ 671 million, the equivalent of MAD 6 billion, the same source said, noting that the foreign exchange position came out. to 3.3 billion dirhams as of September 29 against 9.5 billion dirhams at the end of August 2021.

SL (with MAP)

Source

Dirham appreciates Euro

 
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