Business
The Dirham Almost Stable Against the Euro
Official reserve assets stood at 462 billion dirhams as of February 27, up 0.5% week‑on‑week and 25.6% year‑on‑year.
The dirham remained almost stable against the euro and depreciated by 1% against the US dollar during the week from February 26 to March 4, according to Bank Al‑Maghrib (BAM).
During this period, no auction operation was carried out on the foreign exchange market, BAM indicated in its latest weekly indicators bulletin.
Official reserve assets, for their part, stood at 462 billion dirhams as of February 27, up 0.5% week‑on‑week and 25.6% year‑on‑year.
Regarding Bank Al‑Maghrib’s interventions, they totaled 149.7 billion dirhams on average per day during the period from February 26 to March 4. This volume was distributed between 7‑day advances amounting to 52.6 billion dirhams, longer‑term repurchase agreements (55.1 billion dirhams), and secured loans (41.9 billion dirhams).
On the interbank market, the average daily trading volume amounted to 3.4 billion dirhams and the interbank rate stood at 2.25%.
During the tender on March 4, 2026 (value date March 5, 2026), the Central Bank injected 56.4 billion dirhams in the form of 7‑day advances.
On the stock market side, the MASI fell by 10.1% from February 26 to March 4, bringing its underperformance since the beginning of the year to 11.6%.
With the exception of the “Mining” and “Real Estate Investment Companies” indices, which increased by 3.7% and 0.4% respectively, this decline affected almost all sectors, notably drops of 13.8% for the “Building and Construction Materials” index, 8.5% for “Banks,” 18.6% for “Transport Services,” and 19% for “Agri‑food and Production.”
As for the weekly trading volume, it rose from 1.4 billion dirhams to 3.9 billion dirhams from one week to the next, mainly carried out on the central equity market.
