Bank Al-Maghrib (BAM) indicated that during the period from March 23 to 29, the dirham appreciated by 0.55% against the US dollar and by 0.11% against the euro. .
In its recent weekly bulletin, BAM notes that during this period, no auction operation was carried out on the foreign exchange market.
As of March 24, 2023, official reserve assets (AOR) stood at 363.2 billion dirhams (MMDH), almost flat week-on-week and up 9.2% year-on-year , says the same source.
During the week from March 23 to 29, BAM’s total interventions amounted to 66.4 billion dirhams, including 32.6 billion dirhams in the form of 7-day advances on call for tenders, 16.4 billion dirhams of long-term repos, and 17.6 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 call for tenders of March 29 (value date March 30), the Bank injected an amount of 55.1 billion dirhams in the form of 7-day advances. On the stock market, the MASI appreciated by 0.7%, bringing its poor performance since the start of the year to 1.8%.
This weekly trend mainly reflects the increases in the indices for the “holding companies/holding companies” sectors by 7.9%, “real estate investment companies” by 1.5% and “banks” by 0.5%.
On the other hand, those of the “buildings and construction materials” and “mining” sectors fell by 1.7% and 2.3% respectively.
As for the overall volume of trade, it stood at 285.2 MDH after 314.7 MDH a week earlier. On the central equity market, the average daily volume amounted to 37.6 MDH against 62.9 MDH.