Bank Al-Maghrib reported that the dirham’s exchange rate decreased by 0.58% against the euro and increased by 0.23% against the US dollar during the period from September 12 to September 18.
In its weekly bulletin, the central bank stated that no auction operations were conducted in the currency market during this period.
Official reserves reached 366.1 billion dirhams on September 13, marking a 0.6% increase from the previous week and a 2.5% rise year-on-year.
On average, Bank Al-Maghrib injected 151.5 billion dirhams daily, divided between 7-day advances amounting to 67.8 billion dirhams, long-term repo operations for 48.4 billion dirhams, and guaranteed loans totaling 35.2 billion dirhams.
In the interbank market, the daily average trading volume stood at 2.5 billion dirhams, with the interbank rate averaging 2.75%.
During the tender on September 18 (settlement on September 19), the bank injected 64.5 billion dirhams in 7-day advances.
On the stock market, the MASI index rose by 1.2%, bringing its year-to-date performance to 16.5%. This weekly improvement is mainly driven by increases in the real estate sector (+3.5%), banking sector (+1.2%), and construction & building materials sector (+1.9%).
The weekly trading volume amounted to 481 million dirhams, compared to 1.3 billion dirhams the previous week, mostly on the central stock market.
