Moroccan Dirham Strengthens Against Euro and Dollar, Central Bank Reports

Thus, during the week from April 11 to 17, 2019, the Moroccan currency appreciated by 0.09% against the euro and 0.41% against the dollar, according to Bank Al-Maghrib’s note on weekly indicators.

The central bank also specifies that no auction operation was carried out on the foreign exchange market, noting that the net international reserves stood at 225.9 billion dirhams, down 0.3% from the previous week, while they are down 1.8% year-on-year.

Furthermore, Bank Al-Maghrib injected a total of 77.7 billion dirhams, including 75 billion dirhams in the form of 7-day advances on call for tenders and 2.7 billion dirhams granted under the program to support the financing of very small and medium-sized enterprises (VSME).

As for the Masi (Casablanca Stock Exchange), it appreciated by 0.9% between April 11 and 17, but remains down 2.4% since the beginning of the year.