The dirham depreciated by 0.90% against the euro and 1.57% against the US dollar, during the period from August 11 to 17, according to Bank Al-Maghrib (BAM) .
During this period, no auction operation was carried out on the foreign exchange market, indicates the Central Bank in its last weekly bulletin.
As of August 12, 2022, official reserve assets stood at 336.9 billion dirhams (MMDH), up 1.7% week-on-week and 12.5% year-on-year, reports the MAP.
During the same period, the overall outstanding amount of BAM’s interventions amounted to 105.5 billion dirhams, including 39.7 billion dirhams in the form of 7-day advances on calls for tenders, 38.6 billion dirhams in the form of pension delivered and 27.1 billion dirhams as part of the program to support the financing of very small, small and medium-sized enterprises (TPME).
On the interbank market, the average daily volume of trade stood at 3.7 billion and the interbank rate was 1.50% on average during this period, notes BAM.
During the call for tenders of August 17 (value date August 18), the Bank injected an amount of 39.57 billion dirhams in the form of 7-day advances.
On the stock market, the Masi recorded a rise of 1.5%, bringing its poor performance since the beginning of the year to 8.9%, the Central Bank said.
This weekly evolution mainly reflects increases in the indices of the telecommunications sectors by 2.4%, banks by 1.6% and buildings and construction materials by 1.5%, specifies the same source.
Conversely, those of the electricity and pharmaceutical industry sectors fell back by 1.3% each.
As for the overall volume of trade, it amounted to 296.8 million dirhams (MDH) against 160.8 MDH a week earlier. On the central equity market, the average daily volume amounted to 49.3 MDH after 32 MDH.