Moroccan Dirham Gains Against Dollar, Stock Market Experiences Dip – Bank Al-Maghrib Report
Casablanca, Morocco – November 14, 2025 – The Moroccan dirham experienced a slight recognition against the US dollar during the week of November 6th to 12th, 2025, according to the latest weekly indicators bulletin released by Bank Al-Maghrib (BAM), Morocco’s central bank. The dirham rose by 0.2% against the dollar over the period. However, it simultaneously depreciated by 0.5% against the euro.
BAM reported that no foreign exchange market auction operations were conducted during the week. Morocco’s official reserve assets totaled 431.9 billion dirhams as of November 7th,representing a 0.1% increase week-over-week and a substantial 19.9% rise year-on-year.
Central bank operations averaged a daily volume of MAD 136.1 billion, distributed as follows: MAD 61.1 billion in 7-day advances,MAD 42.1 billion in longer-term repos,and MAD 32.9 billion in guaranteed loans.
Activity on the interbank market saw an average daily trading volume of MAD 4.2 billion, with the interbank rate holding steady at 2.25%. On November 12th, with value date November 13th, BAM injected MAD 68.7 billion into the system via 7-day advances.
Simultaneously occurring,the Casablanca Stock Exchange’s MASI index experienced a downturn,falling 3.8% between November 7th and 12th. despite this weekly decline, the MASI remains up 26.4% for the year-to-date.
The stock market’s performance was weighed down by declines in several key sectors, including Banks (-4.7%), buildings and Construction Materials (-4.5%), Telecommunications (-3.9%), Transport Services (-3%), and Health (-5.4%). Weekly trading volume on the exchange decreased from MAD 1.9 billion to MAD 1.3 billion,primarily within the central equities market.
Keywords: Morocco, Dirham, Bank Al-Maghrib, BAM, Exchange Rate, US Dollar, Euro, Stock Market, MASI, Moroccan Economy, financial News.
