Moroccan Dirham Gains Against Dollar and Euro as Reserves Rise

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

As for the official reserve assets (AOR), they stood at 369.6 billion dirhams (MMDH) as of November 29, up 0.8% from the previous week and 4.2% year-on-year.

The volume of Bank Al-Maghrib’s interventions amounted to 148.8 MMDH on average per day. It is divided between 7-day advances (59.8 MMDH), longer-term repurchase agreements (51.9 MMDH) and guaranteed loans (37.1 MMDH).

On the interbank market, the average daily trading volume rose to 3 MMDH and the interbank rate averaged 2.75%.

On the stock market side, the MASI depreciated by 1% during this week, bringing its performance since the beginning of the year to 22%.

As for the weekly trading volume, it increased from the previous week from 1.2 MMDH to 2.6 MMDH, including 850 million dirhams carried out on the equity block market.