Bank Al-Maghrib (BAM) reported that between November 25 and December 1, 2021, the dirham appreciated 0.38% against the US dollar and depreciated 0.68% against the euro.
In its recent weekly bulletin, BAM specifies that during this period, no bids were recorded within the framework of the currency auctions organized by BAM.
As of November 26, 2021, official reserve assets stood at 322.3 billion dirhams (billion dirhams), up 0.2% from one week to the next and 10.5% year-on-year.
During the same period, BAM injected an amount of 36.7 billion dirhams in the form of 7-day advances following a call for tenders. Taking into account injections of 22.7 billion dirhams in the form of repurchase agreements, 25 billion dirhams under the financing support programs of the TPME and 100 million dirhams (MDH) for foreign exchange swap operations , the overall outstanding amount of BAM interventions stands at MAD 84.5 billion.
On the interbank market, the average daily volume of trade stood at 4.1 billion dirhams and the interbank rate during this period stood at 1.50% on average.
During the call for tenders on December 1 (value date December 2), the Central Bank injected an amount of MAD 37.2 billion in the form of 7-day advances.
On the stock market, during the same period, the Masi depreciated by 1.3%, reducing its performance since the start of the year to 16.7%. This change reflects in particular the decreases in the sector indices for “buildings and construction materials” by 2.5%, “banks” by 1.5% and “telecommunications” by 0.8%.
Conversely, those of the “oil and gas” and “finance companies and other financial activities” sectors appreciated by 0.9% each.
As for the overall volume of trade, it amounted to 684.9 million dirhams against 328.1 million dirhams a week earlier. On the central equity market, the average daily volume reached MAD 134.9 million after MAD 82 million.