Moroccan Dirham Strengthens Against Euro and Dollar, Central Bank Reports

Thus, during this week, the Moroccan dirham appreciated by 0.06% against the European currency, and by 0.2% against the US dollar. The reference period taken into account runs from June 10 to 12.

The Moroccan central bank also indicates that no foreign exchange operations were carried out this week. Moreover, with regard to international reserves, they stood at 234.7 billion dirhams, down 0.2% between May 31 and June 4 last. If we take into account the year-on-year change, it shows an increase of 2.5%.

Regarding interventions on the market, BAM injected 78.8 billion dirhams, including 76.1 billion in the form of 7-day advances on calls for tenders and 2.7 billion dirhams granted under the program to support the financing of very small and medium-sized enterprises (VSMEs).

Furthermore, Bank Al Maghrib reports a 0.6% drop in the Moroccan stock market index (MASI), a drop that stands at 3.5% since the beginning of the year.