Moroccan Dirham Strengthens Against Euro, Weakens vs Dollar in Latest Week

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates in its recent weekly bulletin.

As of September 27, 2023, official reserve assets stood at 355.3 billion dirhams (MMDH), down 0.3% from the previous week and up 4.3% year-on-year, the same source said.

On the interbank market, the average daily trading volume was 4.4 MMDH and the interbank rate averaged 3%.

On the stock market, the MASI depreciated by 1.7%, bringing its performance since the beginning of the year to 8.8%. This weekly change mainly reflects the declines in the indices of the banking sectors by 1.2%, building and construction materials by 2.1% and real estate by 12.9%.

In contrast, those related to the electricity and mining sectors increased by 4.3% and 1.6% respectively.

As for the overall trading volume, it stood at 488.9 MDH against 1.1 MMDH a week earlier.

On Saturday, October 6, the US dollar was worth 10.288 dirhams, while the euro was traded at 10.856 dirhams.