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Rabat – The Moroccan dirham gained 1.41% value against the euro while losing 0.45% of value against the US dollar between March 31 and April 6.
The exchange rate of the Euro against the Moroccan dirham peaked in early March, with one euro reaching MAD 10.9 on March 10, according to data from Morocco’s central bank, Bank Al-Maghrib (BAM).
The US dollar’s exchange rate against the dirham also edged higher in March, with $1 reaching MAD 9.97, BAM data indicate.
Morocco’s treasury reserves at the end of March were set at MAD 332.3 billion ($34.1 billion), down by 0.1% from a week before and up by 8.8 year-on-year.
During this week, the Casablanca stock exchange traded in the green, with the Masi index averaging a weekly growth of 1.1%, under the 3.5% average since the start of the year.
The Masi performance is driven by the 1.1% growth within Morocco’s banking industry, the 1.9% growth within Morocco’s real estate and construction industry, and the 3.9% growth within Morocco’s insurance companies.
The trading volume over the same period reached a volume of MAD 500.4 ($51.4 million) million, down from MAD 539.1 million a week before. The daily average trading volume settled at MAD 76 million ($7.8 million), down from MAD 107.5 million ($11 million) the week before.
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