Moroccan Dirham Strengthens Against Dollar and Euro, Central Bank Reports

Thus, the Moroccan currency appreciated by 0.24% against the dollar and 0.13% against the euro during the week of May 16 to 22, 2019.

The Moroccan central bank announces that it has not carried out any auction operations on the foreign exchange markets and also reports a stabilization of the net international reserves at 232.3 billion dirhams.

In terms of interventions, Bank Al-Maghrib injected 71.5 billion dirhams, including 68.8 billion in the form of 7-day advances and 2.7 billion dirhams were granted under the program to support the financing of small and medium-sized enterprises.

As for the stock market index (Masi), it recorded a decline of 0.15% and 0.3% since the beginning of the year, still according to BAM figures.