Moroccan Dirham Declines Against the Dollar and Euro According to Bank of Morocco

The Bank of Morocco reported that the Moroccan dirham experienced a significant decline against the US dollar during the period from December 26 to December 31, 2024, dropping by 0.5%. It also decreased by 0.6% against the euro. The bank noted that no auction operations were conducted in the foreign exchange market during this period.

Additionally, the Bank of Morocco indicated that official reserve assets amounted to approximately 375.2 billion dirhams as of December 27, 2024, marking an increase of 0.6% compared to the previous week and a rise of 4.6% year-on-year. Regarding liquidity, an average daily amount of 156.6 billion dirhams was injected, distributed between seven-day advances and long-term repurchase operations.

In terms of market activity, the average daily trading volume was around 5 billion dirhams, with the interbank rate averaging at 2.51%. In the auction held on January 2, 2025, the bank injected an amount of 60.2 billion dirhams in the form of seven-day advances.

As for the stock market, the “Masi” index declined by 1.1% during the same period, bringing its performance since the beginning of the year to 22.2%. This decline primarily reflects decreases in indicators for the real estate, food industry, and banking sectors.

About محمد الفاسي