The Moroccan dirham gained 1.41% in value once morest the euro and lost 0.45% in value once morest the US dollar between March 31 and April 6.
The euro’s exchange rate once morest the Moroccan dirham peaked in early March, with one euro reaching 10.9 dirhams on March 10, according to data from Bank Al-Maghrib (BAM). The exchange rate of the US dollar once morest the dirham also rose slightly in March, with the dollar reaching 9.97 dirhams, BAM data show. Moroccan Treasury reserves at the end of March stood at 332.3 billion dirhams ($34.1 billion), down 0.1% from the previous week and up 8, 8 year-on-year.
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During this week, the Casablanca Stock Exchange evolved in the green, the Masi index posting an average weekly growth of 1.1%, lower than the average of 3.5% since the beginning of the year. The performance of the Masi index is driven by the 1.1% growth of the Moroccan banking sector, 1.9% of the real estate and construction sector in Morocco and 3.9% of insurance companies Moroccan.
The volume of transactions over the same period reached a volume of 500.4 million dirhams (51.4 million dollars), down from 539.1 million dirhams the previous week. The daily transaction average was 76 million dirhams ($7.8 million), down from 107.5 million dirhams ($11 million) the previous week.
