Bank Al-Maghrib (BAM) reported that during the week from June 8 to June 14, the dirham appreciated by 0.69% against the US dollar and depreciated by 0.14%. % against the euro.
In its recent bulletin of weekly indicators, BAM specifies that during this period, no auction operation was carried out on the foreign exchange market.
As of June 9, 2023, official reserve assets stood at 352.3 billion dirhams (MMDH), down 0.8% week-on-week and up 9.8% year-on-year , says the same source.
During the same week, the overall outstanding balance of BAM’s interventions came to 81.7 billion dirhams, including 35 billion dirhams in the form of 7-day advances on calls for tenders, 26.1 billion dirhams of outstanding repos delivered to term and 20.7 billion dirhams of long-term guaranteed loans.
On the interbank market, the average daily volume of trade stood at 4.2 billion dirhams and the interbank rate stood at 3% on average during this period.
During the June 11 call for tenders (value date June 15), the Bank injected an amount of 54.1 billion dirhams in the form of 7-day advances.
On the stock market, the MASI appreciated by 1.6%, bringing its performance since the start of the year to 4.4%. This weekly trend mainly reflects increases in the indices of the distributors sectors by 4.4%, banks by 2.4% and “buildings and construction materials” by 1.7%. Conversely, the mining sector index fell by 6.2%.
As for the overall volume of trade, it reached 540 million dirhams (MDH) against 493.1 MDH a week earlier. On the central equity market, the average daily volume amounted to 101.7 MDH after 92.7 MDH.