Bank Al-Maghrib reported that the dirham’s exchange rate rose by 0.47% against the euro and fell by 0.54% against the US dollar from October 17 to 23, 2024.
In its weekly bulletin, Bank Al-Maghrib noted that no auctions were conducted in the foreign exchange market during this period.
The same source highlighted that official reserve assets reached 364.2 billion dirhams as of October 18, 2024, reflecting an increase of 0.8% week-on-week and 2.2% year-on-year.
Additionally, Bank Al-Maghrib injected an average of 150.6 billion dirhams daily, distributed between 7-day advances amounting to 61.9 billion dirhams, long-term repurchase agreements, and secured loans totaling 51.9 billion dirhams and 36.7 billion dirhams, respectively.
In the interbank market, the average daily trading volume was 2.6 billion dirhams, and the interbank rate averaged 2.75%.
During the auction on October 23 (with a maturity date of October 24), the bank injected 62.6 billion dirhams in the form of 7-day advances.
Regarding the stock market, the “Masi” index increased by 2.1%, bringing its performance since the beginning of the year to 16.7%. This weekly development primarily reflects changes in the indicators for the contributions and real estate recovery sectors, which rose by 10.6%, as well as transportation services by 6% and construction and building materials by 4.8%.
Conversely, the distribution and mining sectors recorded declines of 1.6% and 1.1%, respectively.
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