Morocco's central bank reports 3.9% increase in money supply for 2023
Money supply (aggregate M3) reached 1,750.8 billion dirhams (MMDH) in 2023, reflecting a 3.9% increase year-on-year, according to Bank Al-Maghrib's (BAM) recent annual report on the economic, monetary, and financial situation.
By component, sight deposits with banks rose by 6.8%, while term deposits and foreign currency deposits decreased by 10.9% and 12.7%, respectively. Additionally, banknotes in circulation continued to grow robustly, with an increase of 10.9%. However, securities held by