The dirham appreciated by 0.36% against the US dollar and depreciated by 0.15% against the euro, during the period from 20 to 25 November 2020, according to Bank Al-Maghrib (BAM).

During this period, no auction operations were carried out on the foreign exchange market, BAM says in its latest weekly indicator bulletin.

As of November 20, 2020, the stock of official reserve assets stood at 292.8 billion dirhams (MMDH), up 0.5% from one week to the next and 24.2% year-on-year.

From 19 to 25 November 2020, the Central Bank injected a total of 103.3 billion dirhams, including 40.5 billion dirhams in the form of 7-day advances on call for tenders, 23.9 billion dirhams in the form of repo transactions delivered, 31.6 billion dirhams under the support programs for the financing of the MSME and 7.4 billion dirhams under foreign exchange swap operations.

On the interbank market, the average daily volume of exchanges, during the period from 19 to 25 November, stood at 5.2 billion dirhams and the interbank rate stood at 1.5% on average, notes the same source noting that during the call for tenders on 25 November (value date 26 November), BAM injected an amount of 38.9 billion dirhams in the form of 7-day advances.

On the stock market, MASI appreciated by 3.6%, bringing its underperformance since the beginning of the year to 8.8%. This development is mainly explained by the increase which concerned all sectors, with rates of 4.6% for "banks" and 3% for "buildings and building materials".

Conversely, the indices for the "mining" and "forestry and paper" sectors recorded declines of 2.1% and 0.3%.

As for the overall volume of trade, it amounted to 735.9 million dirhams, after 324.5 million dirhams a week earlier. On the central equity market, the average daily volume reached 142.3 million dirhams against 81.1 million dirhams last week.