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    Dirham Appreciates With Respect To Euro, Depreciates Against Dollar

    08 Apr 2018

    According to the latest figures published by, Moroccan Dirham is experiencing slightly healthy period, especially considering MAD’s exchange and fluctuation rates with regards to Euro and US dollar.

    BAM’s latest weekly figures covering the week from March 29 to April 4 show that from Moroccan dirham experienced an appreciation of 0.23 percent with respect to Euro, and a sizable depreciation of 0.59 percent compared to U.S dollar.

    In the period covered by the present figures, BAM’s international reserve currency remains unchanged, and amounted to around 231.7 bn MAD. However, despite the promising value of the international reserves, MAD experienced a decrease of 4.9% in the year on year adjustment value. In the meantime, BAM suggested, the market underwent or experienced no period of tendering processes or measures.

    Concerning the direction of its own monetary policy during that period, BAM said it injected into the economy a total amount of 54.4 bn MAD, with 50 bn as advance payments in case of tendering procedures, and 3 bn to invest in programs to support small and medium-sized enterprises (SME).

    As for the interbank rate in the same week, it rose to 2.30%, with a trade or exchange volume of 5.4 bn Mad, up from 3.8 bn the previous before.

    BAM also noted that the stock market indicators showed a depreciation of 1% in for MASI (Moroccan All Share Indice), which decreases the stock market’s annual performance to its usual figure of 4.1%.

    In the same period from March 29 to April 4, BAM indicated, the total trade volume dropped to 712.9 million MAD, down from 1.1 bn the previous week.

    According to the same, the central market also experienced a sizable decrease in its turnover value, dropping from 177.3 bn Mad to 141.1bn MAD.

    Despite Moroccan Dirham’s slight decrease in value with regards to U.S Dollar, BAM showed positive prospects for MAD, especially as international exchange rates signal an increase in the parity between Euro and US. Dollar.

    moroccoworldnews

    Stock Market

    Index

    Value

    Change

    Open

    MADEX

    10 515,61

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    10 531,73

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    -0,14 %

    12 963,53

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