HomeEconomyChange: The dirham depreciates against the euro

Change: The dirham depreciates against the euro

Bank Al-Maghrib (BAM) announced that during the period from February 3 to 9, 2022, the dirham depreciated by 0.62% against the euro and appreciated by 0.47% against 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 February 4, 2022, official reserve assets stood at 329.4 billion dirhams (MMDH), down 0.3% week-on-week and 5.4% year-on-year.

During the same period, the overall outstanding balance of BAM’s interventions amounted to 76.4 billion dirhams, including 34 billion dirhams in the form of 7-day advances on calls for tenders, 22.7 billion dirhams in the form of repurchase transactions delivered and 19.7 billion dirhams as part of the financing support programs for very small, small and medium-sized enterprises (TPME).

On the interbank market, the average daily volume of trade stood at 3.5 billion dirhams and the interbank rate stood at an average of 1.50% during this period, specifies the bulletin, adding that during the he tender of February 9 (value date February 10), BAM injected an amount of 30.4 billion dirhams in the form of 7-day advances.

On the stock market, the Masi rose 0.3%, bringing its year-to-date performance to 4.4%. This weekly trend mainly reflects increases in the indices of the insurance sectors by 1.7%, banks by 0.6% and buildings and building materials by 0.3%.

On the other hand, indices relating to the mining and telecommunications sectors fell by 2.6% and 1% respectively.

As for the overall volume of trade, it amounted to 732.5 million dirhams (MDH), against 543.5 MDH a week earlier. On the central equity market, the average daily volume amounted to 139.2 MDH after 107.5 MDH.




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