Moroccan Dirham Strengthens Against Euro and Dollar, Central Bank Reports

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

As of March 14, 2025, official reserve assets stood at 367.6 billion dirhams (MMDH), almost stable compared to the previous week and up 2% year-on-year.

The volume of Bank Al-Maghrib’s interventions was reduced to an average of 143.5 MMDH per day during the period from March 20 to 26. It is divided between 7-day advances for an amount of 61.7 MMDH, longer-term repurchase agreements (49.8 MMDH) and guaranteed loans (32 MMDH).

On the interbank market, the average daily trading volume stood at 2.5 MMDH and the interbank rate averaged 2.25%, compared to 2.45% a week earlier, in line with the decision of the Bank Al-Maghrib Board, taken on March 18, 2025, to reduce the key rate by 25 basis points (bps).

On the stock market side, the MASI appreciated by 2.2%, bringing its performance since the beginning of the year to 18.9%. This development reflects in particular increases of 19.6% for the electricity index, 1.2% for the banking index, 7% for mining and 5.5% for real estate.