HomeEconomyChange: The dirham appreciates against the dollar

Change: The dirham appreciates against the dollar

Bank Al-Maghrib (BAM) said that during the period from October 14 to 18, the dirham appreciated 0.15% against the US dollar and depreciated 0.12% against the euro.

In its recent bulletin on weekly indicators, BAM indicated that during the currency purchase auctions of October 18, the Central Bank withheld a total amount of $ 45 million, the equivalent of MAD 407.4 million. (MDH).

As of October 15, 2021, the outstanding official reserve assets stood at 322.8 billion dirhams (billion dirhams), up 0.3% week-on-week and 10% year-on-year .

The bulletin also shows that the total outstanding amount of Central Bank interventions, during the period from October 14 to 20, amounted to MAD 83.6 billion, including MAD 30.9 billion in the form of advances to 7 days on call for tenders, 25.8 billion dirhams in the form of repo operations and 26.9 billion dirhams within the framework of support programs for the financing of very small, small and medium-sized enterprises (TPME).

On the interbank market, the average daily volume of trade stood at 3.2 billion dirhams and the interbank rate during this period was 1.50% on average.

During the call for tenders on October 21 (value date October 21), BAM indicated that it was injecting an amount of MAD 29.8 billion in the form of 7-day advances.

On the stock market, the Masi appreciated by 0.8% between October 14 and 18, bringing its performance since the start of the year to 17.7%. This change mainly reflects the increases in the sector indices of “distributors” of 4.9% as well as “banks” and “telecommunications” of 0.7% each.

Conversely, those relating to the “transport service” and “community services” sectors recorded respective decreases of 0.4% and 4%.

As for the overall volume of trade, it amounted to 523.9 MDH after 619.7 MDH a week earlier. On the central equity market, the average daily volume reached MAD 163.7 million against MAD 114.2 million last week.




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