The dirham has appreciated by 0.6% against the US dollar and depreciated by 0.3% against the euro during the period from May 15 to 21, according to Bank Al-Maghrib’s weekly report.
The bank clarified that it did not conduct any currency auction during this period, adding that official reserve assets reached 396.4 billion dirhams as of May 16, down by 0.5% compared to the previous week, but up by 6.6% year-on-year.
The central bank has injected an average of 125 billion dirhams daily, distributed among seven-day advances (46.5 billion dirhams), long-term repurchase agreements (41.3 billion dirhams), and secured loans (37.2 billion dirhams).
In the interbank market, the average daily trading volume reached 2.7 billion dirhams, with an interest rate of 2.25%. The bank also injected 42.6 billion dirhams in the tender for May 21 through one-week advances.
In the stock market, the “MASI” index rose by 0.1%, bringing its year-to-date performance to 22%, supported by gains in the electricity sector (15%), construction and building materials (0.9%), food industry (5.6%), and banks (0.1%).
Conversely, the sectors of “real estate contributions and recovery” and “health” recorded declines of 4.3% and 3.7%, respectively.
The weekly trading volume in the central market shrank from 2.6 billion dirhams to 1.9 billion dirhams.
