Moroccan Dirham Strengthens Against Euro, Reserves Rise to 233.3 Billion

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.