Moroccan Dirham Gains Strength Against Euro and Dollar

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

As of January 3, 2025, the official reserve assets stood at 373.2 billion dirhams (MMDH), down 0.6% from the previous week and up 4.9% year-on-year.

During this week, the volume of BAM’s interventions amounted to an average of 144.2 MMDH per day. It is divided between 7-day advances for an amount of 60.2 MMDH, as well as longer-term repurchase agreements and guaranteed loans for respective amounts of 49.6 MMDH and 34.3 MMDH.

On the interbank market, the average daily trading volume fell to 2.6 MMDH and the interbank rate averaged 2.5%.

At the January 8 call for tenders (value date January 9), the Bank injected an amount of 53.4 MMDH in the form of 7-day advances.

On the stock market, the MASI increased by 6.4%. This weekly change reflects in particular the increases of 6% for "banks", 7.2% for "buildings and construction materials", 13.8% for "transport services" and 16.2% for "participations and real estate promotion".