Bank Al-Maghrib (BAM) reported the drop of the dirham by 0.41 percent against the euro and the its rise by 1.02 percent against the US dollar between July 23-29. In its latest bulletin of weekly indicators, BAM revealed that no bidding process was carried out on the foreign exchange market, noting that as of July 24, official reserves stood at MAD293 billion (USD29.3 billion) – an increase of 25.2 percent year-on-year.
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