Moroccan Dirham Strengthens Against Dollar, Weakens vs Euro in Latest Week

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates in its weekly bulletin, specifying that the official reserve assets stood at 373.8 billion dirhams (MMDH) as of May 10, 2024, almost stagnant from one week to the next and up 5% year-on-year.

BAM’s interventions averaged 112.7 MMDH per day. They are divided between 7-day advances for an amount of 28.3 MMDH, as well as long-term repurchase agreements and guaranteed loans for amounts of 51.8 MMDH and 32.6 MMDH respectively.

On the interbank market, the average daily trading volume stood at 1.9 MMDH and the interbank rate averaged 3%.

On the stock market, the MASI did not experience any significant variation during the period from May 9 to 15, bringing its performance since the beginning of the year to 11%. As for the weekly trading volume, it increased from 926.7 million dirhams to 2.5 MMDH, including 1.4 MMDH carried out on the block market.