The Moroccan dirham depreciated by 0.7% against the U.S. dollar and appreciated by 0.29% against the euro during the week of December 19–24, 2024, according to the latest weekly bulletin from Bank Al-Maghrib (BAM).
No foreign exchange auction operations were conducted during the period, the central bank noted.
As of December 20, Morocco’s official reserve assets stood at MAD 373.1 billion, reflecting a 0.9% increase from the previous week and a 4% year-over-year growth.
BAM injected an average of MAD 147.5 billion daily in the week of December 19–25. This amount was distributed across several instruments, including seven-day advances (MAD 63.5 billion), longer-term repurchase agreements (MAD 49.6 billion), and guaranteed loans (MAD 34.4 billion).
On the interbank market, the average daily volume of transactions stood at MAD 1.6 billion, while the interbank rate averaged 2.5%. During the December 25 auction, with settlement scheduled for December 26, BAM injected MAD 72.6 billion in seven-day advances.
The MASI, Morocco’s benchmark stock index, fell 1.1% during the week, reducing its year-to-date performance to 20.8%.
Declines in key sectors contributed to the weekly drop, including banking (-0.9%), construction and building materials (-1.9%), and real estate (-3.6%). However, gains were recorded in the distribution (+0.8%) and insurance (+3.2%) sectors.
Trading volumes on the Casablanca Stock Exchange increased significantly, climbing from MAD 7.8 billion to nearly MAD 11 billion week-over-week. Of this, MAD 8.8 billion was recorded in block trades. A notable transaction on December 19 involved the exchange of 353,551 shares of Compagnie de Transports au Maroc (CTM) at a unit price of MAD 800.
This data underscores a mix of economic dynamics as Morocco closes out 2024, reflecting fluctuations in foreign exchange markets, monetary interventions, and stock market activities.
Rephrase in a different way as if you were a native American speaker as a content creation expert and do not talk about yourself or your experience in the text and do not show yourself as an artificial intelligence who wrote and fill the bullet point in the topic and speak the heart of the topic itself and dont take date of blog in ther first and dont take text like box of newsliter subscribe on post from content and romove all linke insert in content and and remove all affiliate disclosure phrases on content like this “This post may contain Amazon or other affiliate links that allow us to earn a small commission at no extra cost to you. Please see our Disclosure Policy for more info” and “#” put in its place bullet point, and romove name of the web site or his links we are take a content from our new creation
