Morocco’s dirham remained nearly stable against the euro and weakened 1 percent against the U.S. dollar in the week from Feb. 26 to March 4, Bank Al Maghrib said in its latest weekly indicators report.
The central bank said no foreign exchange auction operations were conducted during the period. Official reserve assets stood at 462 billion dirhams as of Feb. 27, up 0.5 percent from the previous week and 25.6 percent year on year.
Bank Al Maghrib’s daily interventions averaged 149.7 billion dirhams, including 52.6 billion dirhams in seven day advances, 55.1 billion dirhams in longer term repurchase operations and 41.9 billion dirhams in secured loans. The average daily volume on the interbank market reached 3.4 billion dirhams, while the average interbank rate held at 2.25 percent.
On the Casablanca stock exchange, the MASI index fell 10.1 percent over the week, taking its loss since the start of the year to 11.6 percent, while weekly trading volume rose to 3.9 billion dirhams from 1.4 billion dirhams a week earlier.
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