Change: The dirham appreciates against the euro

Bank Al-Maghrib (BAM) indicated that during the period from March 31 to April 6, 2022, the dirham appreciated by 1.41% against the euro and depreciated by 0.45% vis-à-vis the euro. against the US dollar.

In its recent weekly bulletin, the Central Bank states that during this period, no auction operation was carried out on the foreign exchange market.

As of April 1, official reserve assets stood at 332.3 billion dirhams (MMDH), down 0.1% week-on-week and up 8.8% year-on-year , adds BAM.

During this week, BAM injected a total of 83.3 billion dirhams, including 40.9 billion dirhams in the form of 7-day advances on calls for tenders, 21.7 billion dirhams through repurchase transactions and 20. 8 billion dirhams as part of the program to support the financing of very small, small and medium-sized enterprises (TPME).

On the interbank market, the average daily volume of trade stood at 4.2 billion dirhams and the interbank rate stood at 1.50% on average during this period.

During the April 6 call for tenders (value date April 7), BAM injected an amount of 36.7 billion dirhams in the form of 7-day advances.

On the stock market, the Masi appreciated by 1.1%, bringing its poor performance since the start of the year to 3.5%. This weekly evolution mainly reflects increases in the indices of the banking sectors by 1.1%, “buildings and construction materials” by 1.9% and insurance by 3.9%. Conversely, those of the food industry and transport companies fell by 1.7% and 0.6% respectively.

As for the overall volume of trade, it stood at 500.4 million dirhams (MDH) after 539.1 MDH a week earlier. On the central equity market, the average daily volume reached 76 MDH after 107.5 MDH.



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