Morocco’s Currency Slips as Foreign Reserves Surge

During this period, no auction operation was carried out on the foreign exchange market, the Moroccan central bank specifies in its weekly bulletin of economic indicators.

The official reserve assets stood at 417.3 billion dirhams (MMDH) as of September 26, up 0.4% from the previous week and 13.5% year-on-year.

On the interbank market, the average daily trading volume amounted to 7.3 MMDH, while the interbank rate averaged 2.27%.

At the tender on October 1 (value date October 2), BAM injected 66.6 MMDH in the form of 7-day advances.

On the stock market side, the MASI fell by 6.4% over the same period, bringing its performance since the beginning of the year to 24.4%.

As for the weekly trading volume, it stood at 3.2 MMDH, compared to 2 MMDH the previous week, mainly carried out on the central equity market.