the cash balance deficit stands at 84.9 billion dirhams

According to the research office affiliated with the Moroccan Foreign Trade Bank (BMCE)the bank liquidity deficit, mainly impacted by international reserves and the net position of the Treasury, widened by 1,43% to 84.9 billion dirhams, on a weekly average during the week of April 28 to May 4.

In this sense, advances to seven days of Bank Al-Maghrib (BAM) increased from 9.66 billion dirhams to 48.95 billion dirhams, notes the central bank of Morocco in its latest note “ Fixed Income Weekly ».

For their part, Treasury investments recorded a slight increase as evidenced by the maximum daily outstanding amount which stood at 603 billion dirhams on 29 April, against a maximum daily outstanding amount of 12.9 billion dirhams during the previous period.

The note shows that the weighted average rate (TMP) remained stable at 1,5% while the benchmark overnight monetary index, which is calculated on the basis of repurchase transactions with treasury bills as collateral, fell by 1,465% versus 1,468% at the end of the previous period.

In the coming period, BAM is expected to reduce its intervention in the money market by pumping out 46.8 billion dirhams in 7-day advances, against 48.95 billion dirhams the previous week.