The dirham remained almost stable against the euro and the US dollar during the period from December 12 to 18, 2024, according to the weekly bulletin of Bank Al-Maghrib (BAM). At the same time, no auctions were carried out on the foreign exchange market during this period.
Official reserve assets amounted to 369.6 billion dirhams as of December 13, recording an increase of 0.4% compared to the previous week and an increase of 1.8% year-on-year. On the interbank market, trade reached an average daily volume of 2.9 billion dirhams, with an average interbank rate of 2.70%, down after the reduction of the key rate by 25 basis points.
On the stock market, the MASI index gained 0.5% between December 12 and 18, bringing its annual performance to 22.1%. This progression was supported by increases in the electricity (+3.8%), real estate investment trusts (+1%) and banking (+0.3%) sectors. Conversely, the pharmaceutical industry and insurance sectors experienced declines of 2.2% and 2.1% respectively.
The weekly trading volume jumped to reach 7.8 billion dirhams, compared to 711.4 million the previous week. This notable increase is explained by significant transactions on the block market (5.1 billion dirhams) and by the IPO of the company CMGP, which generated 1.1 billion dirhams on the Casablanca market.
M.Ba.
