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Rabat – The Moroccan dirham strengthened by 1.4% against the euro and 0.6% against the US dollar during the first week of January 2025, according to Bank Al-Maghrib (BAM).
This performance reflects a steady outlook for the national currency as the year begins.
BAM reported no foreign exchange auctions on the market during this period which helped mainly in maintaining stability in its interventions.
As of January 3, Morocco’s foreign currency reserves reached MAD 373.2 billion ($36.2 billion).
Although this marked a 0.6% drop compared to the previous week, reserves showed a significant 4.9% growth compared to the same period last year.
BAM allocated an average of MAD 144.2 billion ($14 billion) daily through various monetary operations.
The bank gave out MAD 60.2 billion ($5.8 billion) in seven-day advances, MAD 49.6 billion ($4.8 billion) through longer-term repos, and MAD 34.3 billion ($3.3 billion) in secured loans.
On the interbank market, the daily trading volume averaged MAD 2.6 billion ($252 million), while the interbank rate remained stable at 2.5%.
To support liquidity, BAM injected MAD 53.4 billion ($5.2 billion) in seven-day advances during its tender on January 8.
The Casablanca Stock Exchange also opened the year with optimistic results, as the Moroccan All Shares Index (MASI) rose by 6.4% over the week.
Gains across key sectors fueled this growth, with banks advancing by 6%, construction materials by 7.2%, transport services by 13.8%, and real estate by an impressive 16.2%.
Weekly trading activity on the stock market slowed slightly, with total transactions decreasing from MAD 7.3 billion ($708 million) to MAD 4.2 billion ($407 million).
Most of the trading occurred in the central equity market, reflecting investors’ cautious yet positive sentiment.
This start to 2025 signals robust market activity and solid financial indicators for Morocco, setting a promising tone for the months ahead.
Read Also: Morocco’s Economic Snapshot: 0.5% Dip in Dirham, 4.6% Boost in Reserves
