Weekly Performance: Dirham rises while MASI declines

Saturday 13 September 2025 - 13:30

By: Sahili Aya

Weekly Performance: Dirham rises while MASI declines

During the week of September 4–10, 2025, the Moroccan dirham appreciated by 0.6% against the US dollar and 0.2% against the euro, according to Bank Al-Maghrib (BAM).

No foreign exchange auction operations were conducted during this period, BAM noted in its weekly economic indicators bulletin.

Official foreign reserves reached MAD 414.8 billion on September 4, up 1% from the previous week and 14% year-on-year. The central bank’s interventions totaled an average daily volume of MAD 133.1 billion, distributed across 7-day advances (MAD 56.2 billion), longer-term repos (MAD 40.9 billion), and secured loans (MAD 36.1 billion).

On the interbank market, the daily average trading volume reached MAD 5.2 billion, with the interbank rate standing at 2.25% on average. During the September 10 auction (value date September 11), the central bank injected MAD 59.9 billion in 7-day advances.

Meanwhile, the Moroccan All Shares Index (MASI) declined by 1.5% over the week, bringing its year-to-date performance to 34.3%. Sectoral performance was broadly negative, with construction materials down 2.5%, telecommunications down 3.2%, banks down 0.6%, real estate promotion and investment down 4.3%, and food and agro-production down 2.9%.

Weekly trading volume decreased from MAD 3 billion to MAD 1.5 billion, mainly on the central equity market.