Moroccan Dirham Strengthens Against the Euro

During this period, no auction operations were conducted on the foreign exchange market, according to Morocco’s central bank in its weekly indicators bulletin.

On Bladi.net : The Moroccan dirham falls against the euro

Official reserve assets stood at 469 billion dirhams (MMDH on April 24, up 1.4% week-over-week and 21.2% year-over-year, the same source specifies.

Regarding BAM interventions, they totaled 155 MMDH in average daily volume during the April 23-29 period. This volume was distributed among 7-day advances totaling 54.9 MMDH, longer-term repurchase agreements (50.3 MMDH), guaranteed loans (49.7 MMDH), and foreign exchange swap operations (120 million dirhams (MDH)).

On the interbank market, the average daily trading volume reached 1.5 MMDH and the interbank rate stood at 2.25% on average.

On the stock exchange side, the MASI declined 2.4% from April 23 to 29, bringing its underperformance since the beginning of the year to 0.8%.

On Bladi.net : The dirham falls against the euro

As for the weekly trading volume, it increased week-over-week from 2.4 MMDH to 2.6 MMDH, with 1.7 MMDH realized on the central "Equities" market and 800 MDH on the block market.