Moroccan Dirham Shows Strength Against Major Currencies
The Moroccan dirham has recently demonstrated a notable appreciation, strengthening by 0.61% against the US dollar and 0.17% against the euro during the period from October 15 to 21, 2026. This rise is highlighted in the latest weekly indicators bulletin issued by Bank Al-Maghrib, the central bank of Morocco. The current status of Morocco’s foreign exchange reserves is equally impressive, standing at MAD 510.2 billion as of October 16. Although there is a slight decrease of 1% from the previous week, the reserves have experienced a substantial increase of 18.8% year-on-year, indicating a strong upward trend in Morocco's economic stability.
During this period, Bank Al-Maghrib did not conduct any foreign exchange auction operations, which suggests a stable foreign exchange environment. The average daily liquidity injections by the central bank were recorded at MAD 147.2 billion, comprising MAD 51.8 billion in seven-day advances, MAD 44.9 billion in longer-term repurchase agreements, and MAD 50.5 billion in guaranteed loans. This proactive liquidity management is crucial for maintaining the balance in the interbank market, where the average daily trading volumes reached MAD 3 billion and the interbank interest rate was noted at 2.25%.
Stock Market Developments and Sector Performance
In addition to the currency developments, the Casablanca Stock Exchange's MASI index has shown resilience by gaining 0.2%, which has helped to narrow its year-to-date decline to 9.8%. Within the stock market, real estate stocks surged by 8.4%, reflecting a positive sentiment towards the real estate sector. Meanwhile, banking shares saw a modest increase of 0.8%. However, the telecommunications sector faced challenges, with stocks declining by 2.9%. These mixed performances across various sectors illustrate the dynamic nature of Morocco’s economic landscape and underscore the ongoing adjustments as the market responds to both domestic and international economic factors.
As reported by en.hespress.com.
