Morocco’s dirham rose 0.6% against the U.S. dollar and fell 0.2% versus the euro during the week of April 9 to 15, while official reserve assets reached 462.5 billion dirhams by April 10, up 0.3% week on week and 20.4% year on year, Bank Al Maghrib said.
In its weekly indicators report, the central bank said it conducted no foreign exchange auction operations during the period. Its average daily interventions totaled 154.3 billion dirhams, including 57.3 billion dirhams in seven day advances, 54.2 billion dirhams in longer term repos and 42.8 billion dirhams in secured loans.
On the interbank market, average daily trading volume stood at 2.8 billion dirhams, with the average interbank rate at 2.25%. In its April 15 tender, with value date April 16, the central bank injected 70.6 billion dirhams in seven day advances.
On the stock market, the MASI index gained 3.5% over the week, reducing its year to date loss to 0.5%. Weekly turnover rose to 3 billion dirhams from 2.6 billion, mainly on the central equities market.
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