Morocco’s Financial Market Update: November 7, 2025
Table of Contents
This report summarizes the key developments in Morocco’s financial market from October 30 to November 5, 2025. the period saw meaningful activity in the money market, a slight dip in the stock market, and continued stability in the interbank lending rate.
Money Market Activity
During the week, total liquidity injections into the market reached 141.5 billion Moroccan Dirhams (MAD) with a daily average, according to data from the Bank Al-Maghrib. This liquidity was distributed as follows:
* 7-day advances: 66.5 billion MAD
* Repos delivered in the longer term: 42.1 billion MAD
* Guaranteed loans: 32.9 billion MAD
on November 5th, the Bank Al-Maghrib injected an additional 61.1 billion MAD into the system through 7-day advances, with a value date of November 7th.
Interbank Market performance
The average daily trading volume on the interbank market increased to MAD 4.7 billion. The interbank rate remained stable at 2.25%, indicating continued liquidity and confidence within the banking sector.
Stock Market Overview (MASI)
The MASI, Morocco’s primary stock market index, experienced a slight decline of 0.5% between October 30th and november 5th. Despite this weekly dip, the MASI’s year-to-date performance remains strong at 31.4%.
Sector Performance
The decline in the MASI was driven by several key sectors:
* Banking: -0.7%
* Telecommunications: -2%
* Real Estate Participation and Advancement: -3.2%
* Health: -2.5%
Tho,the Buildings and Construction Materials sector bucked the trend,experiencing a 3% increase.
Trading Volume
Weekly trading volume decreased from 2.1 billion MAD to 1.9 billion MAD, with the majority of activity concentrated on the central “Shares” market.
Key Takeaways
* Strong Liquidity: The Moroccan money market remains highly liquid, supported by consistent injections from the Bank Al-Maghrib.
* Stable Interbank Rate: The interbank rate’s stability suggests a healthy banking system.
* Mixed Stock Market Performance: While the MASI experienced a slight weekly decline, its year-to-date performance remains positive, with some sectors showing resilience.
* Sectoral Divergence: Performance varied substantially across sectors, highlighting the need for investors to carefully assess individual company and sector risks.
Looking Ahead
The Moroccan financial market is expected to remain stable in the near term, supported by the Bank Al-Maghrib’s proactive liquidity management. Continued monitoring of sectoral performance and global economic conditions will be crucial for assessing future market trends.