Moroccan Dirham Strengthens Against Dollar and Euro, Official Reserves at 362.6 Billion

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

As of July 5, 2024, the official reserve assets stood at 362.6 billion dirhams (MMDH), down 1% from the previous week and up 6.1% year-on-year.

Bank Al-Maghrib’s interventions averaged 141.6 MMDH per day, divided between 7-day advances for an amount of 57.2 MMDH, as well as longer-term repurchase agreements and guaranteed loans for respective amounts of 53.1 MMDH and 31.3 MMDH.

On the interbank market, the average daily trading volume was 2 MMDH and the interbank rate averaged 2.75%.

On the stock market, the MASI gained 1.1%, bringing its performance since the beginning of the year to 10.5%. This weekly change reflects the increases in the indices of the transport services sector by 6.1%, telecommunications by 3% and agri-food by 2.9%. However, the indices related to the portfolio companies and holdings sectors and the materials, software and computer services sectors decreased by 2.1% and 1.5% respectively.