Moroccan Dirham Remains Stable Amidst Market Fluctuations

The Moroccan Dirham (MAD) held its ground against both the US‌ dollar (USD) and‍ the euro ⁣during the period of December ⁢5th to ‍11th,2024,according to⁢ the latest weekly report from Bank Al-Maghrib‌ (BAM),Morocco’s central bank. The report noted the absence of any auction⁣ operations on the foreign exchange ​market during this​ timeframe.

Official reserve assets⁤ (AOR)⁣ stood at a ⁤substantial ⁤368.2 ‌billion dirhams (MMDH)‍ as of⁤ December 6th. While ‍this ‍represents a minor 0.4% decrease‍ compared to⁢ the previous week, it still reflects ⁤a⁣ healthy 3% year-on-year⁢ increase. BAM’s interventions ‍averaged 152.8 billion ⁤dirhams,allocated‍ across⁢ 7-day advances‌ (63.7 billion dirhams), longer-term ⁤repos⁤ (51.9 billion ​dirhams), and guaranteed loans (37.1 ‌billion dirhams).

Interbank market activity saw an average daily trading volume of MAD 2.4 billion,‍ with an average exchange rate ⁣of 2.75%. On December ​11th, the central bank injected ⁣MAD 62.3 billion⁣ in 7-day advances,⁣ aligning with its established liquidity management goals.

The Moroccan All Shares Index (MASI) experienced a slight 0.3% dip,bringing its annual performance down to 21.5%. This⁤ decline ​was primarily attributed ⁣to‍ decreases in ​the distributor (-3.5%), transport services⁢ (-3.3%), and telecommunications (-1.9%) sectors.​ conversely, the real⁢ estate (+2.5%) and banking (+0.3%) ‍sectors showed ‌positive growth. Weekly⁣ trading volume decreased ⁤from 2.6 billion to 711.4 million ‍dirhams.

These ⁢fluctuations in the Moroccan market offer a glimpse into the‌ complexities ​of global finance and the interconnectedness of international economies. ‌ While the⁢ Dirham’s stability against major currencies is positive news for Morocco, the slight downturn in‍ the MASI highlights the ‌need‌ for continued monitoring of various economic ⁤sectors.

The Moroccan Dirham​ (MAD) remained stable⁤ against both the US dollar (USD) and the euro from ‌December ​5th to 11th, 2024. [[1]]‌There were no auction operations on the foreign exchange market during⁢ this time. [[1]]‌



The average daily trading volume in the interbank‌ market was MAD 2.4 billion, wiht an average exchange rate of 2.75%.​ [[1]]​ On december 11th, the central bank⁤ injected MAD 62.3 billion in 7-day advances. [[1]]



Official reserve assets stood ⁣at MAD 368.2 billion as of December 6th, ⁣a minor 0.4% decrease from the previous week but a healthy 3% increase ⁢year-on-year. [[1]]