Bank Al Maghrib said the Moroccan dirham appreciated 0.2 percent against the US dollar and fell 0.5 percent against the euro in the week from 6 to 12 November. No foreign exchange auctions were carried out during the period, the central bank said in its weekly bulletin.
Official reserves stood at 431.9 billion dirhams on 7 November, up 0.1 percent from the previous week and 19.9 percent year on year. The bank’s interventions averaged 136.1 billion dirhams per day, including 61.1 billion in seven day advances, 42.1 billion in long term repo operations and 32.9 billion in secured loans.
Interbank market activity averaged 4.2 billion dirhams in daily volume, with the interbank rate at 2.25 percent. At its 12 November tender, with settlement on 13 November, the central bank injected 68.7 billion dirhams in seven day advances.
On the Casablanca Stock Exchange, the MASI index fell 3.8 percent between 7 and 13 November, reducing its year to date gain to 26.4 percent. The decline reflected drops in banking, construction materials, telecommunications, transport services and health sector indices. Weekly trading volumes fell to about 1.3 billion dirhams from 1.9 billion a week earlier, mostly on the central equities market.
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