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Morocco’s net international reserves rise by 13.5%

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Rabat :  Moroccos net international reserves amounted to MAD 250.2 billion (around $24 billion) until November 25, 2016, recording a 13.5 per cent increase on an annual basis, Al-Maghrib Bank said.

The reserves recorded a 0.1 per cent weekly increase, the central bank pointed out in its weekly indicators.

During the week of November 24-30, 2016, the Morocco central bank injected MAD 16.1 billion.

Over the course of this period, the interbank rate remained at 2.25 per cent, while the average daily exchanged volume increased from MAD 3 billion to MAD 3.9 billion.

During the same period, the dirham depreciated by 0.26 per cent against the euro and appreciated by 0.40 per cent against the US dollar.

 

IANS

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