Considerable increase in Morocco’s foreign exchange reserves

The Central Bank indicated in its last weekly bulletin that during this period, no auction took place on the foreign exchange market.

As of January 21, 2022, official reserve assets amounted to 329.1 billion dirhams, up by 0,2% week-on-week and 6,3% on an annual basis.

During the same period, the total amount due for the interventions of Bank Al-Maghrib amounted to 74.3 billion dirhams, including 34.1 billion dirhams in the form of 7-day advances on calls for tenders, 22.7 billion in the form of repurchase agreements and 17.6 billion of dirhams within the framework of support programs for the financing of small and medium-sized enterprises.

At level of the market interbank, the average daily volume of exchanges was 4.2 billion and the interbank rate stood at 1,50% on average during this period.

Regarding the stock market, the STILL is down from 0,1% and its year-to-date performance stands at 2,7%. This weekly development is mainly due to a decline in the “telecommunications” sectors of 1,3%, “services of transport ” from 1,6% and “distributors” of 2,1%. However, revenues from “oil and gas” and “buildings and construction materials” increased by 2,9% and of 1% respectively.

As for the total trading volume, it amounted to 1.3 billion of dirhams, after 1.2 billion of dirhams a week ago. A On the central stock exchange, the average daily trading volume amounted to 229.5 million dirhams, against 188.5 million dirhams.

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