Morocco's Economic Update: Dirham's Appreciation and Rising Reserves

In a recent economic report released on August 14, 2026, the Bank of Morocco announced a notable increase in the value of the Moroccan dirham against both the Euro and the US dollar during the period from August 6 to August 12, 2026. The central bank indicated that the dirham appreciated by 0.2% against the Euro and by 0.1% against the dollar, despite the foreign exchange market remaining inactive during this timeframe. As of August 7, the official foreign reserves of Morocco reached approximately 500.7 billion dirhams, which represents a 0.5% increase from the previous week and an impressive annual rise of 22.6%. This robust growth in reserves reflects the country's strengthening economic fundamentals and stability in fiscal management.

In its weekly economic and financial indicators report, the Bank of Morocco detailed its interventions in the money market, where the average daily intervention volume reached 144.8 billion dirhams during the same period. These interventions included seven-day advances amounting to 49.4 billion dirhams, longer-term repurchase operations totaling 47.9 billion dirhams, and guaranteed loans of 47.5 billion dirhams. Furthermore, the central bank injected 55 billion dirhams into the market through a tender organized on August 12, with a maturity date set for August 13, reinforcing liquidity in the financial system.

Moreover, the interbank market showed relative stability, with an average daily trading volume of 2.1 billion dirhams, and the interbank rate remained steady at 2.25%. These developments come as the Bank of Morocco continues its efforts to maintain liquidity balance within the monetary market while adapting to evolving financial conditions. In the stock market, the 'Masi' index experienced a 2.7% increase during the same period, buoyed by positive performances across several key sectors. The mining sector led the gains with a 6.2% rise, followed by the distribution sector at 5.6%, construction and building materials at 3.5%, and banking at 1.8%. However, the index for financial companies and other financial activities recorded a decline of 2.1%. Trading activity in the stock market saw the weekly trading volume decrease from 2.9 billion dirhams to 1.4 billion dirhams, with the majority of transactions concentrated in the central equity market.

As reported by africa4press.com.