Moroccan Dirham Shifts: Currency Fluctuations and Economic Indicators Signal Market Trends

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

The official reserve assets stood at 407.5 billion dirhams (MMDH) on August 1, up 0.3% from the previous week and 11.2% year-on-year, according to the Moroccan central bank.

During this period, the volume of BAM’s interventions averaged 130.4 MMDH per day. It is divided between 53.4 MMDH in the form of 7-day advances, 44 MMDH in longer-term repurchase agreements, 32.9 MMDH in guaranteed loans, and 24-hour advances for an amount of 49 million.

On the interbank market, the average daily trading volume was 4.7 MMDH and the interbank rate averaged 2.25%.

On the stock market, the MASI gained 1.2%, bringing its performance since the beginning of the year to 33.2%.

As for the weekly trading volume, it remained almost stagnant week-on-week at 5.2 MMDH, of which 3.4 MMDH was carried out on the central equity market and 1.5 MMDH for the capital increase of the CIH company.