Moroccan Dirham Strengthens Against Euro, Weakens vs Dollar: Central Bank Report

The foreign exchange market did not see any auction operations during this period, Bank Al-Maghrib (BAM) indicates in a note on its weekly indicators.

As for the net international reserves, they stood at 243.8 billion dirhams (MMDH), down 0.2% from the previous week, and up 6.5% year-on-year.

Regarding interventions in the money market, BAM injected a total amount of 59.6 MMDH during the same period, including 53.1 MMDH in the form of 7-day advances on call for tenders. Similarly, a fund of 2.3 MMDH was granted under the TPME financing support program.

On the stock market, the MASI is showing a clear progression, with a rate of 2.4%, bringing its performance since the beginning of the year to 3.8%.

In addition, the building and construction materials, banking and insurance sectors recorded increases of 4.2%, 1.2% and 6.6% respectively, while the mining and pharmaceutical sectors decreased by 0.3% and 1.1% respectively.