Compared to the main currencies of emerging countries, the Moroccan dirham has appreciated by 24.57% against the Turkish lira and depreciated by 4.01% against the Chinese yuan, BAM's latest report on monetary policy showed.

Under these conditions, the actual exchange rate fell by 0.92% in nominal terms and 2.90% in real terms.

Regarding foreign exchange transactions, the average volume of bank's cash transactions with customers amounted to 32.6 billion dirhams for sales (+23.4%) and MAD 30.9 billion for purchases (+19.8%).

Similarly, futures buying increased by 45.5% to 4.2 billion, while futures selling decreased by 15% to 12.9 billion.

At the end of March, banks posted a foreign exchange deficit position of 3.6 billion dirhams, i.e. almost the same as at the end of December 2021.