Banks' liquidity needs increased to 73.5 billion dirhams (billion dirhams) on a weekly average during the second quarter, compared to 69.6 billion dirhams a quarter earlier, reflecting an expansion of fiat currency, according to Bank Al- Maghrib (BAM).

Under these conditions, the Bank increased its injections from 83.5 billion dirhams to 87.7 billion dirhams, including 42.4 billion dirhams in the form of 7-day advances, 25 billion dirhams through repo operations delivered, 20.3 billion dirhams in title of guaranteed loan operations granted as part of SME financing support programs, explains BAM in its report on monetary policy, published at the end of the third quarterly meeting of its Council for the year 2023 .

In this context, the average residual duration of the Bank's interventions fell from 50.4 days to 47.6 days and the interbank rate remained aligned with the key rate, standing at 3% on average, reports the same source. .

The latest available data indicates a further increase in the bank liquidity deficit to MAD 88.8 billion on average in July and August 2023.