Morocco held MAD 224.1 billion in foreign currency reserves on November 2, 2018, a 1.8 percent decrease from November 2, 2017.
Rabat – While the number is a decrease from 2017, it represents a slight increase from November 2015 (MAD 220.8 billion) and a larger increase from November 2014 (MAD 168.25 billion)
During the week of November 1-7, Bank Al-Maghrib, Morocco’s central bank, injected MAD 72.3 billion into the economy.
The interbank interest rate is currently 2.29 percent, Bank Al-Maghrib reported in a press release. Many European markets have negative interbank rates, according to Trading Economics. In contrast, countries such as the US, the UAE, and Saudi Arabia have rates between 2.62 and 2.73.
During the same period, the dirham appreciated by 1.13 percent against the US dollar and depreciated by 0.19 percent against the euro.
