This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press
The Bank of Morocco indicated that the exchange rate of the dirham improved by 0.6 percent against the US dollar and fell by 0.5 percent against the euro, during the period of January 16 to 22, 2025.
The Bank of Morocco explained, in its weekly bulletin, that no tender procedure was carried out on the foreign exchange market during this period.
The same source explains that the assets of the official reserves amounted, as of January 17, to 368.4 billion dirhams, recording an increase of 0.1% from one week to the next and 4% on an annual basis. .
On a daily average during this week, the Bank of Morocco pumped 141.2 billion dirhams. It is divided between 7-day advances for an amount of 57.4 billion dirhams, long-term repurchase operations for an amount of 49.6 billion dirhams and guaranteed loans for an amount of 34.1 billion. dirhams.
-At the level of the interbank market, the average daily trading volume reached 2.4 billion dirhams, while the interbank rate reached 2.50% on average.
During the call for tenders on January 22 (deadline January 23), the bank injected an amount of 55.1 billion dirhams in the form of advances for a period of 7 days.
Regarding the stock market, the “MASI” index fell by 1.9 percent, bringing its year-to-date performance to 6.8 percent.
This weekly development mainly reflects a drop in the indicators for “subsistence agriculture” by 4 percent, “buildings and construction materials” by 2.6 percent and “banks” by 1.8 percent.
Concerning the weekly trading volume, it increased from one week to the next from 2.6 billion dirhams to around 2.9 billion dirhams, most of which took place at the level of the Central Stock Exchange.
