## Dirham Gains Against Euro, Falls Versus US Dollar 

**Central Bank Reports Slight Currency Fluctuations and Stable Reserves**

The Moroccan dirham experienced mixed performance against major currencies between July 24th and 29th, 2025. According to Bank Al-Maghrib's latest weekly bulletin, the dirham appreciated by 0.6 percent against the euro during this period while declining by 1 percent against the US dollar.

No foreign exchange auctions were conducted by the central bank during this timeframe. Official reserve assets remained stable at 406 billion dirhams as of July 25th, […].




## Dirham Gains Against Euro, Falls Versus US Dollar 

**Central Bank Reports Slight Currency Fluctuations and Stable Reserves**

The Moroccan dirham experience

Dirham rises against Euro as central bank boosts market liqu

Dirham rises against Euro as central bank boosts market liquidity

## Moroccan Dirham Gains Ground Against US Dollar

**Currency Fluctuations Reflect Market Activity**

The Moroccan dirham experienced a slight appreciation against the US dollar by 0.6 percent during the week of July 17 to 23, 2025. Meanwhile, it depreciated by 0.3 percent against the euro over the same period, according to Bank Al-Maghrib (BAM).

No foreign exchange auction operations were conducted by the central bank during this timeframe. Official reserve assets stood at 405.2 billion dirhams on July 18, marking a 0.5 percent weekly increase and an impressive 11.9 percent year-on-year surge.

**BAM's Intervention Strategy:**

BAM's average daily interventions totaled 128 billion dirhams during the week. This included:

* **7-day advances:** 49.5 billion dirhams
* **Longer-term repos:** 44 billion dirhams
* **Guaranteed loans:** 34.5 billion dirhams

Interbank trading averaged 3.5 billion dirhams per day, maintaining a stable rate of 2.25 percent.  A liquidity injection of 51.4 billion dirhams was executed on July 23.




## Moroccan Dirham Gains Ground Against US Dollar

**Currency Fluctuations Reflect Market Activity**

The Moroccan dirham experienced a slight appreciation agai

#Euro

Dirham rises against Euro as central bank boosts market liquidity

Dirham strengthens amid stable interbank rates