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    Morocco's Dirham Appreciates by 0.66% against Dollar - Central Bank

    15 Feb 2021

    Rabat - The dirham appreciated by 0.66% against the dollar and depreciated by 0.22% against the Euro during the week of February 4-10, Bank Al-Maghrib (BAM - Central Bank) has said.

    During this period, no auction operations were carried out on the foreign exchange market, according to BAM's weekly indicators bulletin.

    Morocco's official reserve assets amounted to 312.5 billion dirhams until February 5, 2021, up by 25.1% compared to the same period in 2020.

    Bank Al-Maghrib injected 73.2 billion dirhams, including 27 billion dirhams in the form of 7-day advances on call for tenders, 26.7 billion dirhams in the framework of support programs for the financing of very small, small and medium businesses, and 4 billion dirhams in foreign exchange swap operations.

    On the interbank market, the average daily volume of trade stood at 4.4 billion dirhams and the interbank rate stood at 1.5% in average.

    On the stock market, the MASI decreased by 1.6%, bringing its performance since the start of the year to 2.5%.

    The overall volume of trade amounted to 561.2 million dirhams compared to 477.9 million dirhams a week earlier.

    On the central stock market, the average daily volume reached 112 million dirhams against 95 million a week before.

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