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The dirham strengthens against the dollar, with Morocco’s reserves exceeding 454 billion dirhams
During the period from February 5 to 11, 2026, the exchange rate of the dirham increased by 0.5% against the US dollar, while it slightly declined by 0.1% against the euro, according to Bank Al-Maghrib’s weekly bulletin.
The central bank noted that no forex auctions took place during this period, while official reserve assets continued their upward trend, reaching 454.3 billion dirhams as of February 6, 2026, reflecting a 0.4% increase compared to the previous week and a substantial annual rise of 23.1%.
Regarding the central bank’s interventions, the average daily amount was 152.6 billion dirhams during the same week, distributed among seven-day advances valued at 60.6 billion dirhams, long-term repos valued at 53.3 billion dirhams, and guaranteed loans of 38.7 billion dirhams.
In the interbank market, the average daily trading volume remained stable at 2.2 billion dirhams, while the interbank interest rate held at 2.25%. During the auction on February 11, Bank Al-Maghrib injected 55.2 billion dirhams in the form of seven-day advances.
Conversely, the Casablanca Stock Exchange performed negatively during the same period, with the MASI index declining by 0.5%, bringing its performance since the beginning of the year to -2.6%.
This decline is primarily attributed to drops in the indices of the transport services, construction and building materials, health, electricity, and mining sectors, while the banking sector saw an increase of 0.5%.
As for the weekly trading volume, it rose from 2 billion dirhams to 2.4 billion dirhams, with 1.7 billion dirhams in the central equity market, 450 million dirhams related to the capital increase of RISMA, and 240.3 million dirhams in block trading.
