Bank Al-Maghrib (BAM) indicated that during the period from September 29 to October 5, 2022, the dirham depreciated by 1.85% against the euro and appreciated by 1.90% vis-à-vis the euro. against the US dollar.
In its recent weekly bulletin, the Central Bank states that during this period, no auction operation was carried out on the foreign exchange market.
As of September 30, 2022, official reserve assets stood at 340.7 billion dirhams (MMDH), up 1.1% week-on-week and 7.2% year-on-year, know BAM.
During the same period, the overall outstanding amount of BAM’s interventions amounted to 104.8 billion dirhams, including 50.8 billion dirhams in the form of 7-day advances on calls for tenders, 30.9 billion dirhams of outstanding pensions delivered over the long term and 23.2 billion dirhams of long-term guaranteed loans.
On the interbank market, the average daily volume of trade stood at 7 billion dirhams and the interbank rate stood at an average of 2% during this period, notes the same source, noting that when calling offers of October 5 (value date October 6), the Bank injected an amount of 48.6 billion dirhams in the form of 7-day advances.
On the stock market, the Masi depreciated by 1.2%, bringing its poor performance since the start of the year to 12.7%. This weekly evolution mainly reflects the declines in the indices of the building and construction materials sectors by 3%, the food industry by 2.8% and the banks by 1.1%.
On the other hand, the indexes of the real estate investment companies and “oil and gas” sectors rose by 1% and 0.5% respectively.
As for the overall volume of trade, it stood at 923.6 million dirhams (MDH), against 1.1 billion dirhams a week earlier. On the central equity market, the average daily volume amounted to 183.7 MDH after 219.3 MDH.