The news comes as Morocco slowly recovers from the severe economic repercussions of COVID-19.
Rabat – The Moroccan Dirham appreciated by 0.51% against the Euro and depreciated by 0.8% against the US dollar during the week of January from 07-13, Bank Al-Maghrib (BAM), Morocco, 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.
Bank Al-Maghrib also injected into the Moroccan economy MAD 81.1 billion dirhams (over $9 billion), including MAD 36.5 ($4.87 billion) in the form of 7-day advances on call for tenders, MAD 24.3 billion ($2.72 billion) in the framework of support programs for the financing of very small, small and medium businesses, as well as MAD 5 billion (over $500,000) in foreign exchange swap operations.
On the interbank market, the average daily volume of trade stood at MAD 5 billion dirhams and the interbank rate stood at 1.5% on average.
On the stock market, the MASI increased by 0.4%, an under-performance of 0.2% since the start of the year.
Meanwhile, the overall volume of trade amounted to MAD 262.7 million (over $ 29 million) compared to MAD 2.8 billion (over $313 million) a week earlier. On the central stock market, the average daily volume reached MAD 65.5 million ($7.33million) against MAD 80.5 million ($9.01 million) a week before.