Moroccan Dirham Fluctuates: Gains Against Euro, Slips Versus Dollar

BAM in its latest weekly indicators bulletin noted that official reserve assets fell by 0.4%, to stand at 292.7 billion dirhams (MMDH). The central bank states that it has injected a total of 106 MMDH, in the form of 7-day advances on calls for tenders, in the form of repurchase agreements, for the support programs for the financing of very small and medium-sized enterprises (VSMEs), and for foreign exchange swap operations.

On the interbank market, the average daily trading volume stood at 5.6 MMDH and the interbank rate stood at 1.5% during this period. Regarding the stock market, the Masi depreciated by 1% in the period from November 2 to 4, bringing its underperformance since the beginning of the year to 14.9%.

As for the overall trading volume, BAM explains in its note that it reached 132.9 million dirhams (MDH) after 519.8 MDH the previous week. As for the central stock market, the average daily volume is 44 MDH compared to 102.4 MDH the previous week.