HomeEconomyChange: The dirham depreciates against the euro

Change: The dirham depreciates against the euro

Bank Al-Maghrib (BAM) indicated that during the period from January 6 to 12, the dirham depreciated by 0.36% against the euro and remained almost stable against the US dollar. .

In its recent weekly bulletin, the Central Bank states that during this period, no offers were recorded in the context of the foreign exchange auctions organized by BAM.

As of January 7, 2022, official reserve assets stood at 329.8 billion dirhams (MMDH), down 0.4% week-on-week and up 6.8% year-on-year , says the same source. During the same period, the overall outstanding amount of BAM’s interventions amounted to more than 72 billion dirhams, including 28.8 billion dirhams in the form of 7-day advances on calls for tenders, 22.8 billion dirhams in the form of pension delivered and 21.2 billion dirhams as part 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 5.5 billion dirhams and the interbank rate stood at 1.5% on average during this period.

During the January 12 call for tenders (value date January 13), BAM injected an amount of 30.4 billion dirhams in the form of 7-day advances.

On the stock market, during the same period, the MASI appreciated by 1.8% and its performance since the beginning of the year stands at 1.3%. This change is mainly due to increases in the indices of “buildings and construction materials” by 2.7%, banks (1.9%) and telecommunications (0.9%). On the other hand, the “holding companies and holding companies” and “leisure and hotels” sectors depreciated by 3% and 1% respectively.

As for the overall volume of trade, it amounted to 831.3 million dirhams (MDH) against 1.6 billion dirhams a week earlier. On the central equity market, the average daily volume stood at 141 million dirhams.




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