The dirham rises by 0.55% against the euro

The Bank of Morocco reported that the dirham exchange rate increased by 0.55 percent against the euro, and decreased by 0.31 percent against the US dollar, during the period between June 6 and 12, 2024.

The Bank of Morocco explained, in its weekly bulletin, that no tender process was conducted in the exchange market during this period.

He pointed out that, as of June 7, official reserve assets amounted to 369.2 billion dirhams, a decrease of 0.4 percent from week to week and an increase of 4.8 percent on an annual basis.

On a daily average, the Bank of Morocco pumped 127.1 billion dirhams, including 42.6 billion dirhams in the form of 7-day advances, 51.2 billion dirhams in the form of long-term repurchase operations, and guaranteed loans equivalent to 33.2 billion dirhams.

At the interbank market level, the average daily trading volume reached 3.3 billion dirhams, while the interbank rate reached 3 percent on average.

During the call for tenders on June 12 (due date June 13), the Central Bank injected an amount of 61.3 billion dirhams in the form of 7-day advances.

Regarding the stock market, the “MASI” index decreased by 0.8 percent, bringing its performance since the beginning of this year to 8.8 percent.

This weekly development reflects an increase in the mining sector indices by 4.6 percent, “construction and building materials” by 2.9 percent, and “real estate employment companies” by 2.1 percent.

In contrast, the insurance and pharmaceutical sectors decreased by 4.2 percent and 3.2 percent, respectively.

Regarding the weekly volume of trades, it moved from 990 million dirhams to 2.5 billion dirhams, of which 1.1 billion dirhams were achieved primarily at the stock market level.