Bank Al-Maghrib reported that the dirham rose by 0.1% against the euro, while remaining almost stable against the US dollar during the period from January 9 to 15. The central bank explained in its weekly bulletin that no auction operations were conducted in the foreign exchange market during this period.
The same source noted that official reserves amounted to approximately 367.8 billion dirhams as of January 10, 2025, reflecting a decrease of 1.4% week-on-week and an increase of 3.2% year-on-year.
During the week from January 9 to 15, 2025, Bank Al-Maghrib injected an average of 137.3 billion dirhams daily, distributed among seven-day advances amounting to 53.4 billion dirhams, long-term repurchase operations (49.6 billion dirhams), and secured loans (34.3 billion dirhams).
In the interbank market, the average daily trading volume reached 2.4 billion dirhams, with an interbank rate averaging 2.5%. In the auction held on January 15 (with a maturity date of January 16), the bank injected an amount of 57.4 billion dirhams in the form of seven-day advances.
Regarding the stock market, the “MASI” index rose by 2.3% during the period from January 9 to 15, bringing its performance since the beginning of the year to 8.8%. This weekly development primarily reflects increases in the “banks” index by 2.1%, “food/agriculture production” by 8.1%, and “communications” by 5.7%.
As for the weekly trading volume, it decreased from week to week from 4.2 billion dirhams to 2.6 billion dirhams, with most transactions occurring in the central stock market.