The dirham appreciated by 0.36% against the euro and depreciated by 1.86% against the US dollar, during the period from February 24 to March 2, 2022, 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 recent weekly bulletin.
As of February 25, 2022, official reserve assets stood at 333.4 billion dirhams, up 0.2% week-on-week and 8.1% year-on-year.
The overall outstanding balance of Bank Al-Maghrib’s interventions amounts to 75.2 billion dirhams (MMDH), including 33.1 billion MAD in the form of 7-day advances on call for tenders, 21.5 billion MAD in the form of repo transactions and 20.6 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 4.7 billion dirhams and the interbank rate stood at 1.5% on average during this period.
On the stock market, the MASI depreciated by 4%, posting a poor performance since the start of the year of 2.9%. This decline mainly reflects the declines in the sector indices of “oil and gas” by 10.6%, “buildings and construction materials” (7.2%) and banks (2.7%).
The mining and “holding and holding companies” sectors fell by 1.8% and 1.4% respectively.
As for the overall volume of trade, it reached 882.3 million dirhams against one billion a week earlier. On the central equity market, the average daily volume amounted to 172.8 million after 199.7 million.