In October, cash in circulation rose again and increased by 1.6 billion dirhams compared to September. Bank deposits fell by 4.3% over 12 rolling months and stood at 1,084 billion dirhams.
Cash in circulation increased in October 2022. In one month, it increased by 1.6 billion dirhams.
This is what the latest shows Bank Al Maghrib monetary statistics. Cash in circulation stood at 344.5 billion dirhams at the end of October 2022. Over a rolling year, cash in circulation increased by 23.2 billion dirhams or 7.2%.
Sight deposits increase in October and term accounts decline
In October 2022, bank deposits fell slightly by 0.3% or 2.7 billion dirhams compared to September 2022. They now reach 1,084 billion dirhams. Compared to the same period last year, deposits increased by 4.3%.
In detail, sight deposits with banks are down 0.3% compared to September 2022 to 722.4 billion dirhams. They show an increase of 8.6% compared to the same period last year.
Term deposits meanwhile, increased by 0.7% to 122 billion dirhams compared to the previous month. Compared to the same period last year, they are down 12.2%.