Moroccan Dirham Holds Steady Against Euro, Gains on US Dollar

During this period, no foreign exchange auction was carried out, Bank Al-Maghrib (BAM) indicates, while specifying that as of November 25, 2022, the outstanding official reserve assets stood at 341.4 billion dirhams (MMDH), down 0.2% from the previous week and up 5.9% year-on-year.

BAM reports that an amount of 98.5 MMDH was injected, including 50.9 MMDH in the form of 7-day advances on call for tenders, 22.1 MMDH in outstanding long-term repurchase agreements and 25.5 MMDH in long-term guaranteed loans.

On the interbank market, the average daily trading volume stood at 2.2 MMDH. As for the interbank rate, it stood at an average of 2%.

On the stock market, the MASI gained 0.5%, bringing its year-to-date underperformance to 18.3%. This development is explained by the increases in the indices of the "food" sectors by 6.6%, "oil and gas" by 5.1% and "telecommunications" by 1.5%. Conversely, the indices of the building materials and construction and banking sectors fell by 2.3% and 0.6% respectively.

As for the overall trading volume, it amounted to 517.5 million dirhams (MDH), after 800 MDH the previous week. Regarding the average daily volume on the central equity market, it stood at 63.1 MDH against 58 MDH the previous week.