Moroccan Dirham Holds Steady Against Euro, Slips Versus Dollar

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

The official reserve assets stood at 362.3 billion dirhams (MMDH) as of November 15, up 0.6% from the previous week and 2.2% year-on-year.

Regarding BAM’s interventions during the week of November 14-20, they amounted to 152 MMDH, divided between 7-day advances for an amount of 63 MMDH, as well as longer-term repurchase agreements and guaranteed loans for respective amounts of 51.8 MMDH and 37.3 MMDH.

In the interbank market, the average daily trading volume returned to 1.8 MMDH and the interbank rate averaged 2.75%.

On the stock market, the MASI appreciated by 2.1%, bringing its performance since the beginning of the year to 23.9%. This weekly change reflects in particular the increases in the indices of the "transport services" sector by 5.8%, the "building and construction materials" sector by 4.9% and the banks by 2%.