On Sunday, September 15, 2024, Bank Al-Maghrib announced that the exchange rate of the dirham appreciated by 0.3% against the euro and by 0.1% against the US dollar between September 5 and 11, 2024.

According to the bank’s weekly bulletin, no currency auction operations were conducted in the foreign exchange market during this period. As of September 6, official reserve assets stood at MAD 364 billion, representing a 0.2% weekly increase and a 2.4% year-on-year rise.

Bank Al-Maghrib also injected an average daily amount of MAD 145 billion, distributed among seven-day advances amounting to MAD 61.3 billion, long-term repurchase agreements of MAD 48.4 billion, and guaranteed loans totaling MAD 35.2 billion.

In the interbank market, the average daily trading volume reached MAD 1.7 billion, with the interbank rate averaging 2.75%.

For the tender dated September 11 (maturity on September 12), the bank injected MAD 67.8 billion in seven-day advances.

The MASI Index increased by 0.6%, bringing its year-to-date performance to 15.2%. This weekly development reflects significant growth in the transport sector (up 5.5%), real estate (up 5.4%), and food processing (up 3.5%).

Conversely, the mining and banking sectors experienced declines of 0.8% and 0.6%, respectively.

Weekly trading volume reached MAD 1.3 billion, down from MAD 2 billion the previous week, with the majority of transactions taking place on the central stock market.