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Moroccan Dirham Strengthens Against Euro, Reserves Rise to 233.3 Billion

– bySylvanus@Bladi · 1 min read
Moroccan Dirham Strengthens Against Euro, Reserves Rise to 233.3 Billion

The dirham showed good health during the period from July 18 to 24, 2019, according to the note on the weekly indicators of Bank Al-Maghrib (BAM). The Moroccan currency appreciated by 0.20% against the euro and depreciated by 0.44% against the dollar.

From July 18 to 24, 2019, no auction operation was carried out on the foreign exchange market, according to BAM in a note on its weekly indicators.

The note also specifies that the net international reserves amount to 233.3 billion dirhams (MMDH) as of July 19, which is a clear increase of 0.2% from the previous week and 3.3% year-on-year. According to the same source, the MASI stock market index fell by 0.3% on the market.

The weekly change in the benchmark index mainly reflects declines for "real estate", "banks" and "telecommunications", with respective rates of 1.9%, 0.7% and 0.1%, the Note states.

Category: Economy
Keywords:
Bank Al-Maghrib Moroccan Dirham Euro Dollar

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