Moroccan Dirham Strengthens Against Dollar, Stable vs Euro in Mid-December

From December 12 to 18, 2019, no auction operation was carried out on the foreign exchange market, BAM indicates in a note on its weekly indicators.

The note also specifies that the net international reserves amount, as of December 13, 2019, to 242.5 billion dirhams (MMDH), which is almost stable from one week to the next, and up 7.1% year-on-year. According to the same source, the MASI stock market index appreciated by 1.2% on the market, thus bringing its performance since the beginning of the year to 5.8%.

The weekly change in the benchmark index mainly concerns the increases in the sectoral indices of "transport companies", "building and construction materials" and "telecommunications" with respective rates of 4.4%, 3.1% and 1.3%, the note states.