The Moroccan dirham decreased by 0.68% against the Euro, and by 0.42% against the US dollar, during the period from January 27 to February 2, 2022, said Bank Al-Maghrib (BAM).
The Central Bank stated in its weekly note that during this period no tender process was conducted in the exchange market, adding, until January 28, 2022, official reserve assets remained stable at MAD 330.3 billion, an increase of 0.4% on a weekly basis, and an increase of 5.2% on an annual basis.
BAM indicated that it pumped MAD1.78 billion during the same period, including MAD8.35 billion in the form of seven-day advances based on a request for proposals, MAD 22.7 billion in the form of buy-back operations, and MAD 19.7 billion in the form of the financing of support programs for small and medium-sized enterprises (SMEs).
The average daily trading volume amounted to MAD 4 billion, and the bank rate during this period remained stable at 1.50% on average, noting that it pumped MAD34 billion in advances for 7 days during the request for proposals on February 2 (due date February 3rd).
BAM indicated the MASI index increased by 1.3%, bringing its performance since the beginning of the year to 1.4%, following the rise in the mining sector by 7.4%, banks by 3.2%, and building equipment and materials by 2.1%.
The total volume of exchanges reached MAD543.5 million, down compared to MAD1.3 billion recorded a week earlier, while the average daily volume of exchanges completed in the central stock market remained stable at
MAD5,107 million, compared to MAD5,229 million recorded a week earlier, added the same source.
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