Moroccan Dirham Rises Against Dollar, Falls Against Euro

The Moroccan dirham experienced a modest appreciation against the US dollar, rising by 0.1% in the final week of June. However, the national currency weakened slightly against the Euro, dropping by 0.4% during the same period, according to Bank Al-Maghrib's latest weekly indicators.

Official reserve assets held by the central bank showed a healthy increase, reaching 495.8 billion dirhams as of June 26. This figure represents a 1% rise from the previous week and a significant 23.4% increase compared to the same period last year.

Bank Al-Maghrib actively managed liquidity in the banking system, injecting an average of 156.6 billion dirhams daily. These interventions primarily consisted of seven-day advances, long-term repurchase operations, and secured loans, ensuring stability in the interbank market where daily exchanges decreased to 1.7 billion dirhams.

On the stock market, the MASI index saw a marginal increase of 0.1% during the reporting period, bringing its year-to-date performance to a negative 3.8%. Sector-specific movements included gains in metals, food industry, and banking, while IT and transport services experienced declines.