The dirham rises against the euro and falls against the dollar
This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press
The Bank of Morocco indicated that the exchange rate of the dirham decreased by 0.7 percent against the US dollar and increased by 0.29 percent against the euro, during the period from 19 to December 24.
The Bank of Morocco explained, in its weekly bulletin, that no tender procedure was carried out on the foreign exchange market during this period.
The same source adds that as of December 20, 2024, official reserve assets amounted to 373.1 billion dirhams, recording an increase of 0.9% from week to week, and 4% on an annual basis.
During the week of December 19 to 25, Bank Al-Maghrib pumped, on a daily average, 147.5 billion dirhams, distributed between 7-day advances for an amount of 63.5 billion dirhams, long-term repurchase for an amount of 49.6 billion dirhams and guaranteed loans. . Amounting to 34.4 billion dirhams.
At the interbank market level, the average daily trading volume reached 1.6 billion dirhams, while the interbank rate reached 2.5% on average.
During the call for tenders on December 25 (deadline December 26), the bank injected an amount of 72.6 billion dirhams in the form of advances for a period of 7 days.
Regarding the stock market, the “MASI” index decreased by 1.1 percent during the period from December 19 to 25, bringing its year-to-date performance to 20.8 percent.
This weekly development mainly reflects the decline in indicators for the banking sectors by 0.9 percent, buildings and construction materials by 1.9 percent and real estate by 3.6 percent.
On the other hand, indicators for the distribution and insurance sectors recorded an increase of 0.8 percent and 3.2 percent respectively.
Concerning the weekly trading volume, it increased from one week to the next from 7.8 billion dirhams to around 11 billion dirhams, of which 8.8 billion dirhams took place at the level of the share block market. , as this market witnessed on December 19, 2024. the exchange of 353,551 shares of the Moroccan company Transport (CTM) at the unit price of 800 dirhams.
