Moroccan Dirham Fluctuates: Gains Against Dollar, Slips Versus Euro
The dirham appreciated by 0.36% against the US dollar and depreciated by 0.15% against the euro, during the period from November 20 to 25, 2020. This is indicated by the indicators published by Bank Al-Maghrib (BAM).
As of November 20, 2020, the outstanding official reserve assets stood at 292.8 billion dirhams (MMDH), up 0.5% from the previous week and 24.2% year-on-year, BAM said.
The central bank reports that it injected a total of 103.3 MMDH, including 40.5 MMDH in the form of 7-day advances on tenders, 23.9 MMDH in the form of repurchase agreements, during this period. Similarly, 31.6 MMDH and 7.4 MMDH were injected respectively under the TPME financing support programs and for foreign exchange swap operations.
On the interbank market, the average daily trading volume stood at 5.2 MMDH. As for the interbank rate, it averaged 1.5%.
On the stock market, the MASI posted a 3.6% increase, thus bringing its underperformance since the beginning of the year to 8.8%.
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