Moroccan Dirham Drops 0.46% Against Euro, Reserves Hold Steady

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates in its weekly bulletin.

As of April 19, 2024, the official reserve assets (AOR) stood at 359.4 billion dirhams (MMDH), up 0.2% from the previous week, and almost stable year-on-year.

During the week of April 18-24, 2024, Bank Al-Maghrib’s interventions averaged 130.8 MMDH per day. They are divided between 7-day advances for an amount of 49.9 MMDH, as well as long-term repurchase agreements and guaranteed loans for outstanding amounts of 50.6 MMDH and 30.4 MMDH respectively.

On the interbank market, the average daily trading volume returned to 1.6 MMDH and the interbank rate averaged 3%.

On the stock market side, the MASI depreciated by 0.8% from April 18 to 24, bringing its performance since the beginning of the year to 9.8%. This weekly change mainly reflects the declines in the indices of the "real estate participation and promotion" sector by 6.7%, the "real estate investment companies" sector by 3.3% and the "banks" sector by 0.6%.