A section-by-section walkthrough of the Dalil dashboard — what each number means, where it comes from, how fresh it is, and what you should not assume from it.
Dalil shows Moroccan equities, currencies, commodities, crypto, bonds, and news on a single page. No login, no paywall. But a dashboard is only useful if you know how to read it. This guide explains each section: what the numbers represent, how often they update, and where the limits are.
If you are new to market data in general, start with the Glossary for definitions. For a full list of where Dalil sources its data, see Data Sources.
The two headline cards at the top of the dashboard show the MASI (Moroccan All Shares Index) and the MASI 20 (the 20 most liquid stocks). These are the primary benchmarks of the Casablanca Stock Exchange (Bourse de Casablanca).
The number is the index level — a weighted composite of share prices. On its own, the level is less important than its direction. A MASI of 14,200 does not tell you much unless you know where it was yesterday.
The percentage change next to the level shows how much the index has moved compared to the previous session's close. Green means the index is up; red means it is down. This is a session-to-session comparison, not intraday.
Breadth indicators — labeled "advances" and "declines" — tell you how many individual stocks rose versus fell during the session. A MASI that is up 0.3% with 45 advances and 12 declines suggests broad-based buying. A MASI up 0.3% with 8 advances and 40 declines suggests a few large-cap stocks are carrying the index while most names are falling. Breadth adds context that the headline number alone cannot provide.
Equity data on Dalil is delayed by at least 15 minutes from the Casablanca exchange. During market hours (Monday–Friday, approximately 9:30–15:30 Casablanca time), the values refresh periodically but never represent the live order book. After the session closes, the values reflect the final closing data until the next trading day. For more detail on the MASI specifically, see MASI Index.
The FX section shows exchange rates for the Moroccan dirham against major currencies. The most watched pairs are USD/MAD and EUR/MAD.
What you see is a mid-market reference rate, not a rate you can transact at. The mid-market rate is the midpoint between the buy and sell prices on the interbank market. It is the closest thing to a "true" exchange rate, but no bank or bureau de change will give you exactly this number. They add a spread — their margin — which is why the rate at your bank will always be slightly worse.
Update frequency: FX rates on Dalil refresh approximately every 30 minutes via Open Exchange Rates. This means you are seeing a rate that could be up to 30 minutes old at any moment. During periods of sharp currency moves, the displayed rate may lag the actual market.
Why it matters for Morocco: The dirham is managed by Bank Al-Maghrib within a band pegged to a basket of EUR and USD. Day-to-day moves are typically small — often under 0.2%. But even small FX shifts affect import costs, remittance values, and commodity pricing in MAD. The percentage change shown is relative to the previous day's rate.
Do not use the rate shown on Dalil to plan a currency transaction. Always confirm with your bank or transfer provider before sending money. For methodology details, see Methodology.
The commodities section shows prices for gold, silver, and crude oil. Each commodity displays two prices: the international USD price and a MAD-converted equivalent.
How the MAD price is calculated: For precious metals, Dalil takes the spot price per troy ounce in USD, divides by 31.1035 (grams per troy ounce) to get a per-gram figure, then multiplies by the current USD/MAD rate. The result is an indicative gold-per-gram price in dirhams. This is not a retail price — jewelers, banks, and dealers all apply their own premiums.
Delay structure: Precious metals (gold, silver) carry an 8-hour delay from the data provider. Energy prices (crude oil) have a 30-minute delay. This means the gold price you see at 2 PM might reflect the 6 AM London spot. The MAD conversion uses the most recent FX rate available (up to 30 minutes old), so the final MAD figure compounds two separate delays.
The percentage changes shown are relative to the previous day's reference price. Because of the delay, these changes may not match what you see on a real-time terminal like Bloomberg or Reuters.
Dalil displays cryptocurrency prices sourced from Luzia, which pulls from Binance order books. Prices are denominated in USDT and then converted to MAD using the same FX rate described above.
Update interval: Crypto prices refresh approximately every 5 minutes. In crypto terms, this is near-real-time — but it is important to understand what "near" means. A 5-minute-old BTC price during a volatile session could be hundreds of dollars away from the current market. Dalil labels its crypto section accordingly.
Why USDT, not USD: Most global crypto trading volume occurs in USDT (Tether) pairs. The USDT/USD rate is usually very close to 1:1, but during extreme market stress it can deviate. Dalil converts USDT prices to MAD as if USDT equals USD. In practice, this introduces a negligible error under normal conditions.
What this is not: Dalil does not connect to any Moroccan exchange or OTC desk. The prices shown do not reflect what a Moroccan buyer or seller would actually pay locally, where premiums, liquidity constraints, and regulatory considerations all apply.
The bond yields section shows government bond yields across several maturities. For Morocco, yields are displayed when available from the data provider. US Treasury yields come from FRED (the Federal Reserve Economic Data service). European yields come from OECD data.
What yield means: A bond yield is the annual return an investor earns if they buy the bond at the current market price and hold it to maturity. When yields rise, bond prices are falling — and vice versa. Higher yields generally signal that the market demands more compensation for lending to that government, whether due to inflation expectations, credit risk, or monetary policy.
The yield curve: Dalil shows yields at multiple maturities (e.g., 2-year, 5-year, 10-year). Normally, longer maturities carry higher yields — this is a "normal" curve. When short-term yields exceed long-term yields, the curve is "inverted," which historically correlates with economic slowdowns. Comparing Morocco's curve to the US or European curves can give you a rough sense of relative borrowing costs and monetary policy divergence.
Fallback values: Morocco bond yield data is not always available in real time from providers. When the primary source does not return fresh data, Dalil may display the most recent known value. This is noted in the Methodology page. All bond yields update on a daily basis — they do not change intraday on the dashboard.
The news section aggregates RSS feeds from sources including Hespress, Medias24, and Reuters. Headlines appear in the order they are published, with the most recent at the top.
Refresh rate: The feed updates approximately every 30 minutes. A breaking story may take up to 30 minutes to appear on Dalil after the source publishes it.
What Dalil does not do: Dalil does not write, edit, translate, or summarize news. It displays the headline and links to the original source. Editorial responsibility belongs entirely to the source publication. If a headline seems inaccurate or misleading, the issue is upstream — Dalil is a pass-through.
The news section is designed to give you a quick scan of what is being reported about Moroccan markets and the broader economy. For deeper analysis, follow the links to the original articles.
Nothing on Dalil is truly real-time. Every data point has a delay between the moment the underlying event occurs (a trade, a rate fix, a yield calculation) and the moment it appears on your screen. Here is a summary:
| Data Type | Typical Delay | Source |
|---|---|---|
| Morocco equities (MASI, stocks) | 15+ minutes | Casablanca exchange via providers |
| FX rates (USD/MAD, EUR/MAD) | Up to 30 minutes | Open Exchange Rates |
| Precious metals (gold, silver) | Up to 8 hours | Third-party commodity feeds |
| Energy (crude oil) | Up to 30 minutes | Third-party commodity feeds |
| Crypto (BTC, ETH, etc.) | ~5 minutes | Luzia via Binance |
| Bond yields | Daily (end-of-day) | FRED, OECD, local providers |
| News headlines | Up to 30 minutes | RSS from Hespress, Medias24, Reuters |
These delays are inherent to the free data tier Dalil operates on. Professional terminals (Bloomberg, Refinitiv) offer lower-latency feeds at significant cost. Dalil's value is accessibility and breadth, not speed.
Some panels on the dashboard display indicative data rather than delayed-live data. This applies primarily to international equity indices — US markets (S&P 500, Dow Jones), European indices (CAC 40, DAX), and GCC markets.
What "indicative" means: The values shown are static reference points — typically the most recent closing price — rather than continuously updating delayed feeds. They give you a directional sense of where global markets stand, but they do not track intraday moves. These panels are clearly labeled on the dashboard.
Why the distinction matters: If you see a US market panel showing the S&P 500 at 5,400 with a +0.8% change, that reflects the previous session's close, not what is happening right now in New York. During US trading hours, the actual index could be meaningfully different. For live US market data, use a dedicated source.
Morocco equity data (MASI, individual stocks) is delayed but updates during Casablanca trading hours. International panels are static snapshots. Knowing which is which prevents misinterpretation.
When you open the Dalil dashboard, you are looking at a composite picture assembled from multiple providers, each with its own delay and methodology. Here is a practical reading order:
No single panel tells the full story. The value of a dashboard is the relationships between sections — a rising MASI with falling bond yields and a stable dirham paints a different picture than a rising MASI with spiking yields and a weakening dirham.
For a deeper look at how Dalil calculates and transforms the data it displays, see the Methodology and Data Sources pages.
Disclaimer: This article is for educational purposes only. All data displayed on Dalil is delayed and sourced from third-party providers — it is not real-time and may contain errors or gaps. Nothing on this page or on the Dalil dashboard constitutes financial advice, a recommendation to buy or sell any security, or an offer of any financial service. Always verify prices, rates, and yields with your broker, bank, or licensed financial advisor before making any financial decision.
Open Live Dashboard →