Moroccan Dirham rises by 2.3% against the dollar

Bank Al-Maghrib reported that the dirham increased by 2.3% against the US dollar, while it decreased by 0.6% against the euro.

In its weekly report, Bank Al-Maghrib mentioned that no tender operations were conducted in the foreign exchange market during this period.

The same source also noted that the official reserves amounted to 384.8 billion dirhams as of April 10, 2025, showing a decrease of 2.1% compared to the previous week and an increase of 7.3% year-on-year.

The average daily transactions of Bank Al-Maghrib during this period amounted to 131 billion dirhams, distributed between 7-day advances of 49.3 billion dirhams, long-term repurchase agreements (49.8 billion dirhams), and secured loans (32 billion dirhams).

In the interbank market, the average daily trading volume decreased to 3 billion dirhams, with the interbank rate averaging 2.25%.

Regarding the April 16 tender (due on April 17), the central bank injected 49 billion dirhams in the form of 7-day advances.

On the stock market front, the “Masi” index increased by 6.8% after a 9.3% decline, bringing its performance since the beginning of the year to 15.9%.

Except for the “Tree Cultivation and Papermaking” sector, which registered a 0.2% decline, other sectors performed with growth ranging from 2.4% to 18.4%.

Growth rates included: 3.7% in the “Banks” index, 6.6% in “Real Estate and Construction Materials,” 10.9% in “Transport Services,” 7.5% in “Telecommunications,” and 18.4% in “Electricity.”

In terms of evaluation, the price-to-earnings ratio (PER) rose from 22.9 to 24.5 week-on-week.

The weekly trading volume decreased from 4.6 billion dirhams to 2.7 billion dirhams, mostly carried out on the central stock market.