Moroccan Dirham Surges Against Euro as Foreign Reserves Hit 409.6 Billion
The Moroccan dirham appreciated by 0.2% against the euro and depreciated by 0.5% against the US dollar during the period from August 22 to 27, according to Bank Al-Maghrib.
During this period, no auction operation was carried out on the foreign exchange market, the Moroccan central bank indicates in its latest bulletin.
Regarding the official reserve assets, they stood at 409.6 billion dirhams on August 22, up 0.4% from the previous week and 13.2% year-on-year.
At the tender on August 27 (value date August 28), the Central Bank injected 59.1 billion dirhams in the form of 7-day advances.
On the stock market side, the MASI appreciated by 3.1% from August 22 to 27, bringing its performance since the beginning of the year to 37%.
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