Moroccan Dirham Strengthens Against Euro and Dollar as Foreign Reserves Rise

During this period, no auction operations were carried out on the foreign exchange market, indicates the Moroccan central bank in its recent weekly indicators bulletin.

As of May 2, official reserve assets stood at 400.7 billion dirhams (MMDH), up 3.5% week-on-week and 7.1% year-on-year, according to the same source.

On the stock market side, the MASI appreciated by 1.3% from May 2 to 7, bringing its performance since the beginning of the year to 19.2%. This evolution reflects notably increases of 1.5% in the building and construction materials index, 4.4% for real estate participation and promotion, 6.3% for distributors, and 5.4% for insurance.

As for the weekly trading volume, it stood at 822.4 million dirhams (MDH), after 3 MMDH a week earlier, mainly realized on the central stock market.