1. Exchange Rate Movements Bank Al-Maghrib reported that the dirham appreciated by 1.47% against the euro and depreciated by 1.06% against the US dollar during the period from November 7 to 13.
2. Foreign Reserves and Monetary Interventions Official foreign reserves stood at MAD 360.1 billion as of November 8, marking a weekly decline of 0.1%, but a year-on-year increase of 1.6%. No foreign exchange auction operations were conducted during this period. The central bank injected a daily average of MAD 152.5 billion, divided into 7-day advances (MAD 63.5 billion), long-term repurchase agreements (MAD 51.8 billion), and guaranteed loans (MAD 37.3 billion).
3. Interbank Market The daily average trading volume in the interbank market reached MAD 2.4 billion, with an average interbank rate of 2.75%. During the tender on November 13 (settlement date November 14), the central bank injected MAD 63 billion in 7-day advances.
4. Stock Market Performance The MASI index rose by 2.7%, bringing its year-to-date performance to 21.4%. This weekly gain was driven by the transport sector (+11.6%), banking sector (+3.2%), and construction materials sector (+2.6%). However, declines were recorded in the beverages sector (-3%) and electricity sector (-3.3%).
5. Trading Volume Weekly trading volume surged to MAD 3.4 billion, compared to MAD 1.4 billion the previous week. Central stock market activity accounted for MAD 2.2 billion, while MAD 1 billion came from the public offering of Morocco Bank shares.
