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Currency: the Dirham appreciated by 0.5% against the euro

17/02/2025
Categories: Economy/Forex

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The Dirham appreciated by 0.5% against the euro and by 0.1% against the American dollar, during the period from 06 to 12 February, during the period from 06 to 12 February, according to Bank Al-Maghrib. During this period, no auction transactions were carried out on the foreign exchange market, Bank Al-Maghrib (BAM) specifies

in its weekly bulletin.

As of February 7, 2025, official reserve assets stood at 369 billion dirhams (BMDH), up 0.2% from one week to the next and 4% year-on-year, the same source said.

Regarding the volume of interventions by BAM, it was on average daily at 146.1 billion MAD, divided between 7-day advances for 64.4 billion MAD, as well as pensions delivered over a longer term and guaranteed loans for amounts of MAD 51.3 billion and 30.5 billion MAD respectively.

On the interbank market, the average daily trade volume fell to 1.1 billion dirhams, while the interbank rate averaged 2.5%.

During the tender on 12 February (value date on 13 February), the Bank injected an amount of MAD 67 billion in the form of 7-day advances.

On the stock exchange, MASI appreciated by 1.1% during the week from 6 to 12 February, bringing its performance since the start of the year to 11%. This weekly evolution reflects in particular increases of 4.9% for the telecommunications index, 5.4% for the mining index and 6.1% for the “Oil and Gas” index

.

As for the weekly trading volume, from one week to the next, it rose from MAD 1.7 billion to MAD 2.8 billion, mainly on the central equity market.

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