Foreign exchange market: The dirham almost stable against the euro


The dirham remained almost stable against the euro and depreciated by 0.29% against the US dollar during the period from June 13 to 19, according to Bank Al Maghrib (BAM).

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

As of June 14, 2024, official reserve assets stood at 366.7 billion dirhams (MMDH), down 0.7% from one week to the next and up 4.9% year-on-year. .

Bank Al-Maghrib’s interventions stood, on a daily average, at MAD 145.7 billion during the week of June 13 to 19, 2024. They are distributed between 7-day advances for an amount of MAD 61.3 billion, as well as long-term pensions and guaranteed loans for respective amounts of MAD 51.2 billion and MAD 33.2 billion.

On the interbank market, the average daily volume of trade amounted to MAD 2.8 billion and the interbank rate stood at 3% on average.

During the call for tenders on June 19 (value date June 20), the Bank injected an amount of MAD 60.9 billion in the form of 7-day advances.

On the stock market side, the MASI appreciated by 0.2% from June 13 to 19, bringing its performance since the start of the year to 9.1%. This weekly development reflects increases in the mining sector indices of 5%, distributors of 4.6% and real estate investment companies of 1.9%.

On the other hand, those in the beverages and oil and gas sectors decreased by 5.4% and 1.8% respectively.

As for the weekly trading volume, it rose from 2.5 billion dirhams to 475.4 million dirhams, mainly achieved on the central stock market.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button