Morocco’s Dirham Weakens Against Euro and Dollar, Stock Market Drops 4.2%

Agadir – Morocco’s dirham weakened against the euro and the US dollar in the first week of October, while the Casablanca Stock Exchange recorded losses across all sectors, according to Bank Al-Maghrib (BAM).

The dirham depreciated by 1.47% against the euro and 2.95% against the US dollar between October 1 and 7, the central bank said in its latest weekly indicators bulletin.

BAM reported no foreign exchange auction operations during the period.

Meanwhile, Morocco’s official reserve assets reached MAD 515.7 billion ($52.6 billion) on October 2, marking a 1.8% increase from the previous week and a 23% rise compared with the same period last year.

The central bank provided an average of MAD 155.1 billion ($15.8 billion) per day in liquidity through its intervention operations. This included MAD 59.7 billion ($6.09 billion) in seven-day advances, MAD 44.9 billion ($4.58 billion) in longer-term repurchase agreements, and MAD 50.7 billion ($5.17 billion) in guaranteed loans.

On the interbank market, the average daily trading volume reached MAD 3.4 billion ($346.8 million), while the interbank interest rate stood at 2.25%.

Casablanca Stock Exchange extends losses

The Casablanca Stock Exchange also faced a difficult week, with the Moroccan All Shares Index (MASI) falling 4.2% between October 1 and 7.

The decline brought the index’s losses since the beginning of 2026 to 9.8%, as all sector indices ended the period lower.

The real estate investment and development index recorded the steepest decline, dropping 9.1%. The mining index followed with a 5.9% decrease, while transportation services fell 5.3%.

The building and construction materials index lost 4.7%, while the banking sector index declined by 1.9%.

Trading activity also slowed during the week. Total transaction volume fell to MAD 1.1 billion ($112.2 million) from MAD 1.9 billion ($193.8 million) in the previous week, with most transactions taking place on the central equity market.