Moroccan Dirham Weakens Against Dollar and Euro, Official Reserves at 361.2 Billion

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

As of March 22, 2024, the official reserve assets (AOR) stood at 361.2 billion dirhams (MMDH), up 0.2% from the previous week and down 0.6% year-on-year.

In addition, Bank Al-Maghrib’s interventions averaged 120.3 MMDH per day. They are divided between 7-day advances for an amount of 39.4 MMDH, long-term repurchase agreements (50.6 MMDH) and guaranteed loans (30.4 MMDH).

On the stock market, the MASI gained 0.2%, bringing its performance since the beginning of the year to 7.4%. This weekly change mainly reflects the increases in the indices of the agri-food sector by 2%, the building and construction materials sector by 0.8% and the banking sector by 0.5%.

As for the weekly trading volume, it fell from 956.5 million dirhams (MDH) to 734.8 MDH week-on-week, mainly carried out on the central "Stocks" market.