The dirham gained 0.2 percent against the euro and slipped 0.1 percent versus the US dollar between August 13 and 19, according to Bank Al-Maghrib. No foreign exchange auctions were conducted during the week.
Official reserves stood at 408.1 billion dirhams as of August 15, down 0.1 percent on the week but up 12.2 percent year-on-year. Between August 14 and 20, BAM injected an average 144 billion dirhams daily into the money market through seven-day advances (67 billion), long-term repo operations (44 billion), and secured loans (32.9 billion).
Interbank transactions averaged 4 billion dirhams a day at a rate of 2.25 percent. On August 22, the central bank provided 57.3 billion dirhams in seven-day advances.
On the Casablanca Stock Exchange, the MASI index fell 1.2 percent from August 15 to 19, trimming annual gains to 32.8 percent. Declines in banking, construction, food, real estate, and mining weighed on the market, while weekly trading volumes dropped from 2.5 to 1.5 billion dirhams.
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