The Moroccan dirham falls against the euro

During this period, no auction operations were carried out on the foreign exchange market, the Moroccan central bank said in its latest weekly indicator bulletin.

The official reserve assets stood at 429.2 billion dirhams (MMDH) as of October 24, almost stagnant from the previous week and up 18.5% year-on-year.

Regarding the volume of BAM’s operations, it amounted to an average of 147.5 MMDH per day during the week of October 23 to 29. It is divided between 7-day advances for an amount of 72.6 MMDH, longer-term repurchase agreements (42.1 MMDH) and guaranteed loans (32.9 MMDH). On the interbank market, the average daily trading volume fell to 3.2 MMDH and the interbank rate stood at 2.25%.

On the stock market side, the MASI gained 0.3% during the period from October 23 to 29, bringing its performance since the beginning of the year to 32%. This development reflects in particular the progress of the "Participation and real estate promotion" sector by 5.9%, "Health" by 5.6% and "Transport services" by 1.3%.