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Currency: The dirham still solid against the euro

21/07/2022
Categories: Economy/Forex

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From June 30 to July 6, the dirham appreciated by 0.30% against the euro.

Outstanding official reserve assets stood at 325.4 billion dirhams (MMDH), down 0.6% week-on-week and up 7.9% year-on-year, according to Bank Al-Maghrib. The Moroccan currency thus remains more or less stable against the euro. In addition, 23.7 billion dirhams and 900 million dirhams (MDH) were injected respectively in the framework of programs to support the financing of SMEs and in foreign exchange swap operations.

On the stock market, the MASI appreciated by 1.4%, bringing its underperformance since the beginning of the year to 11.7%. Overall trading volume amounted to MAD 448.6 million, compared with MAD 651.3 million a week earlier. As for the average daily volume on the central equity market, it stood at MAD 74.8 million, compared with MAD 121.9 million the previous week.

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