The dirham has risen by 0.2% against the euro.
Morocco’s central bank reported that the dirham increased by 0.2% against the euro and by 0.9% against the US dollar during the period from May 29 to June 4.
The central bank explained in its weekly bulletin that no tenders were conducted in the foreign exchange market during this period.
The same source indicated that official reserves reached 401.9 billion dirhams, marking an increase of 0.3% week-on-week and 8.4% year-on-year.
The central bank injected an average of 125.7 billion dirhams daily. This amount is distributed among 7-day advances valued at 47.3 billion dirhams, long-term repurchase operations (44.6 billion dirhams), and guaranteed loans (33.9 billion dirhams).
In the interbank market, the average daily trading volume reached 2.4 billion dirhams, with the interbank rate averaging 2.25%.
During the tender on June 4 (with a maturity date of June 5), the bank injected 51.9 billion dirhams in the form of 7-day advances.
Regarding the stock market, the “Masih” index rose by 3.6% from May 29 to June 4, bringing its increase since the beginning of the year to 26.2%.
This development primarily reflects increases of 3.8% in the “Banks” index, 9.3% in “Transport Services,” 2.8% in “Building and Construction Materials,” 9.5% in “Real Estate Participation and Recovery,” and 7.7% in “Electricity.”
As for the weekly trading volume, it increased from 1.7 billion dirhams to 2.7 billion dirhams, primarily conducted in the central stock market.
