Dirham drops against euro, rises against dollar

Dirham drops against euro, rises against dollar

The Bank of Morocco released its weekly bulletin, revealing a 0.22 percent dip in the dirham’s exchange rate against the euro and a 0.96 percent increase against the US dollar from November 2nd to 8th.

No exchange market tender occurred during this period. Official reserve assets as of November 2nd stood at 354.4 billion dirhams, marking a 0.4 percent weekly decrease but a 4.3 percent annual rise.

The bank’s daily injection averaged 113.1 billion dirhams, comprising 7-day advances (43.6 billion dirhams), long-term repurchase operations, and guaranteed loans (41.7 billion dirhams and 27.8 billion dirhams, respectively). The interbank market recorded a daily trading volume of 1.9 billion dirhams, with an average interbank rate of 3 percent.

On November 8th, the Bank injected 40.7 billion dirhams as 7-day advances. Meanwhile, the stock market’s “MASI” index saw a 0.6 percent decline, attributing it to a 6.4 percent drop in distribution sectors, a 2 percent decrease in insurance, and a 1 percent fall in the agricultural food industry. This brought the year-to-date performance to 11.6 percent.


Please enter your comment!
Please enter your name here