HomeEconomythe dirham almost stable against the euro

the dirham almost stable against the euro

The dirham remained almost stable against the euro and depreciated by 0.87% against the US dollar during the period running from February 16 to 22, according to Bank Al-Maghrib (BAM).

During this period, no auction operation was carried out on the foreign exchange market, specifies BAM in its recent weekly bulletin.

As of February 17, Official Reserve Assets (AOR) stood at 333 billion dirhams (MMDH), up 0.3% week-on-week and 0.1% year-on-year, namely the Central Bank.

During the same week, the overall outstanding amount of BAM’s interventions came to 90.8 billion dirhams, including 44.1 billion dirhams in the form of 7-day advances on call for tenders, outstanding long-term repos of 23.5 billion dirhams and an amount of long-term guaranteed loans of 23.2 billion dirhams.

On the interbank market, the average daily volume of trade stood at 3.4 billion dirhams and the interbank rate stood at 2.50% on average during this period.

During the February 22 call for tenders (value date February 23), the Bank injected an amount of 39.8 billion dirhams in the form of 7-day advances.

On the stock market, the Masi rose by 0.7%, bringing its underperformance since the start of the year to 0.9%, underlines BAM, noting that this weekly evolution essentially reflects the appreciation of the indices of the sectors of insurance by 6.3%, banks by 3.8% and mining by 3.6%.

In contrast, the agrifood, beverages, and oil and gas indices fell 2.8%, 2%, and 0.9%, respectively.

As for the overall volume of trade, it reached 696 million dirhams (MDH) against 444.2 million a week earlier. On the central equity market, the average daily volume amounted to 138.7 MDH after 88.6 MDH.

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