The dirham appreciated by 1.25% against the euro and 0.44% against the US dollar during the week from May 25 to 31, according to Bank Al-Maghrib (BAM).
During this period, no auction operations were carried out on the foreign exchange market, indicates BAM in its recent bulletin of the weekly indicators.
As of May 26, 2023, official reserve assets stood at 354.5 billion dirhams (MMDH), down 0.4% week-on-week and up 8.2% year-on-year , says the same source.
During the same week, the overall outstanding balance of BAM’s interventions amounted to 78.9 billion dirhams, including 32.1 billion dirhams in the form of 7-day advances on calls for tenders, 26.1 billion dirhams of outstanding pensions delivered on a long-term basis and 20.7 billion dirhams of long-term guaranteed loans.
On the interbank market, the average daily volume of trade stood at 3.5 billion dirhams and the interbank rate stood at 3% on average during this period.
During the May 31 call for tenders (value date June 1), the Bank injected an amount of 39.3 billion dirhams in the form of 7-day advances.
On the stock market, the MASI appreciated by 1.3%, bringing its performance since the start of the year to 3.1%. This weekly trend mainly reflects increases in the building and construction materials sector indices by 4.4%, real estate investment companies by 1.4% and banks by 1.1%.
On the other hand, those of the agro-food and mining sectors fell by 2.3% and 4.2% respectively.
As for the overall volume of trade, it amounted to 785.7 million dirhams (MDH) against 434.2 MDH a week earlier. On the central equity market, the average daily volume amounted to 147.1 MDH after 86.7 MDH from one week to another.