Bank Al-Maghrib (BAM), indicated that during the period from December 26 to 31, 2024, the dirham depreciated by 0.5% against the US dollar and by 0.6% against the euro.
In its weekly bulletin, the Central Bank specifies that during this period, no auction operations were carried out on the foreign exchange market.
As of December 27, 2024, official reserve assets stood at 375.2 billion dirhams (billion dirhams), up 0.6% from one week to the next and 4.6% year-on-year.
During the week from December 26 to January 1, 2025, the volume of BAM interventions amounted to 156.6 billion dirhams on a daily average. It is divided between 7-day advances (72.6 billion dirhams), repos delivered in the longer term (49.6 billion dirhams) and guaranteed loans (34.4 billion dirhams).
On the interbank market, the average daily trading volume amounted to 5 billion and the interbank rate stood at 2.51% on average.
During the call for tenders on January 2 (value date January 2), the Bank injected an amount of MAD 60.2 billion in the form of 7-day advances.
On the stock market, the MASI depreciated by 1.1% from December 26 to 31, bringing its performance since the start of the year to 22.2%.
This weekly development notably reflects increases of 8.4% in the real estate sector index, 2.9% in that of “agri-food and production”, 1.3% in “buildings and construction materials”. construction” and 0.5% of that of the Banks. On the other hand, the telecommunications index fell by 3.2%.
As for the weekly trading volume, it increased from one week to the next from 11 billion dirhams to nearly 7.3 billion dirhams, including 4.4 billion dirhams made on the share block market and 2.9 billion dirhams on the central market.
