HomeEconomyThe dirham almost stable against the euro from October 07 to 13

The dirham almost stable against the euro from October 07 to 13

The dirham remained almost stable against the euro and appreciated 0.12% against the US dollar from October 07 to 13, according to Bank Al-Maghrib (BAM).

During the currency purchase auctions of October 12, Bank Al-Maghrib withheld a total amount of $ 121 million (MDH) or the equivalent of MAD 1.1 billion (MMDH), specifies the Central Bank in its recent bulletin on weekly indicators.

As of October 8, 2021, the outstanding official reserve assets remained almost stable, from one week to the next, at 322 billion dirhams. On a year-over-year basis, it grew 9.3%, the same source said.

The overall outstanding amount of Bank Al-Maghrib interventions stands at MAD 80.4 billion, including MAD 27.8 billion in the form of 7-day advances on call for tenders, 25.8 billion in the form of repo transactions delivered and 26.9 billion within the framework of the programs to support the financing of the very small, small and medium-sized enterprises (SME).

On the interbank market, the average daily volume of trade stood at 3.1 billion dirhams and the interbank rate during this period stood at 1.50% on average.

During the call for tenders on October 13 (value date October 14), Bank Al-Maghrib injected an amount of MAD 30.9 billion in the form of 7-day advances.

On the stock market, the MASI has appreciated by 0.8%, bringing its performance since the start of the year to 16.8%. This change mainly reflects increases in the electricity sector indices of 4.9% and banks and “buildings and construction materials” by 0.7%.

On the other hand, the indices of the transport sectors and of “holding companies and holding companies” depreciated by 4% and 3.5% respectively.

As for the overall volume of trade, it stood at MAD 619.7 million against MAD 612.8 million a week earlier. On the central equity market, the average daily volume amounted to MAD 114.2 million after MAD 116.6 million a week earlier.




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