HomeEconomyThe dirham appreciates against the euro and depreciates against the hour

The dirham appreciates against the euro and depreciates against the hour

Bank Al-Maghrib (BAM) indicated that during the period from February 2 to 8, the dirham appreciated by 0.68% against the euro and depreciated by 0.71% against the euro. US dollar screw.

In its recent weekly bulletin, the Central Bank indicated that during this period no auction operations were carried out in the foreign exchange market, noting that as of February 3, official reserve assets stood to 336.2 billion dirhams (MMDH), up 0.5% week-on-week and 2.1% year-on-year.

During the same week, the overall outstanding amount of BAM’s interventions came to 89.9 billion dirhams, including 43.2 billion dirhams in the form of 7-day advances on calls for tenders, outstanding long-term repos of 23.5 billion dirhams and an amount of long-term guaranteed loans of 23.2 billion dirhams.

And to note that BAM organized on February 6 a call for tenders within the framework of the structural operations of purchase of Treasury bills on the secondary market. The operation recorded an overall request of nearly 200 million dirhams (MDH), fully satisfied by the Bank.

The average maturity of the Treasury bonds purchased was nearly 3 months at an average rate of 3.12%. On the interbank market, the average daily volume of trade stood at 4.9 billion dirhams and the interbank rate stood at 2.50% on average during this period. During the February 8 call for tenders (value date February 9), the Bank injected an amount of 34 billion dirhams in the form of 7-day advances.

On the stock market, the Masi rose by 4.3%, bringing its underperformance since the start of the year to 0.7%, underlines BAM, noting that this weekly evolution mainly reflects the appreciation of the indices of the sectors of banks by 6.3%, agrifood by 4.2% and buildings and building materials by 3%.

On the other hand, those of “oil and gas” and beverages fell by 0.3% and 0.2% respectively. As for the overall volume of trade, it went from 562 MDH to 9.4 MMDH from one week to another, including 8.7 MMDH in the form of contribution of securities. On the central equity market, the average daily volume amounted to 106.3 MDH, after 71.3 MDH a week earlier.

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