Moroccan Dirham Holds Steady Against Euro, Slips 0.31% vs. Dollar

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

As of October 27, 2023, official reserve assets stood at 355.8 billion dirhams (MMDH), down 0.2% from the previous week and up 4.7% year-on-year, the same source said.

During this week, Bank Al-Maghrib’s interventions averaged 112.7 MMDH per day, divided between 7-day advances of 43.1 MMDH, as well as long-term repurchase agreements and guaranteed loans with outstanding amounts of 47.1 MMDH and 27.8 MMDH respectively.

In the interbank market, the daily average trading volume stood at 2.6 MMDH and the interbank rate averaged 3%.

At the tender on November 1 (value date November 2), the Bank injected an amount of 43.6 MMDH in the form of 7-day advances.

On the stock market, the MASI fell by 0.9%, bringing its performance since the beginning of the year to 12.2%. This weekly change mainly reflects the declines in the indices of the "real estate investment companies" sector by 1.9%, the "buildings and construction materials" sector by 1.2% and the banking sector by 0.3%.

Conversely, those related to the health and "hardware, software and IT services" sectors increased by 1.2% and 0.3% respectively.

As for the overall trading volume, it reached 402.7 million dirhams (MDH), compared to 615.5 MDH the previous week.

On the central equity market, the average daily volume amounted to 79.3 MDH, after 123.2 MDH.