The Moroccan dirham appreciated 1.2% against the US dollar and 0.72% against the euro during the week of July 4-10, according to Bank Al-Maghrib (BAM). No foreign exchange auction operations were conducted during this period.
Official reserve assets decreased 1% week-on-week to 362.6 billion dirhams as of July 5, though they remained up 6.1% year-on-year.
Bank Al-Maghrib’s daily interventions averaged 141.6 billion dirhams, primarily through 7-day advances (57.2 billion dirhams), longer-term repurchases (53.1 billion dirhams), and guaranteed loans (31.3 billion dirhams).
The interbank market recorded an average daily trading volume of 2 billion dirhams, with an average interbank rate of 2.75%. On July 10, BAM injected 52.4 billion dirhams through 7-day advances.
The Casablanca Stock Exchange’s MASI index gained 1.1% week-on-week, bringing its year-to-date performance to 10.5%. The transport, telecommunications, and agri-food sectors led the gains, while portfolio companies, holding companies, and IT services declined. Weekly trading volume contracted to 791.4 million dirhams from 888.9 million dirhams the previous week.
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