The Moroccan dirham rose by 0.8% against the euro, and dropped by 1.49% against the US Dollar during the period from April 21 to 27, said Bank Al-Maghrib (BAM) in its weekly bulletin.
As of April 22, official reserve assets stood at MAD328.9 billion, down by 0.1% week-on-week, and up 8.2% year-on-year, according to the Central Bank.
No auction operations were carried out on the foreign exchange market during this week, BAM added.
During the same period, Bank Al-Maghrib’s total outstanding interventions amounted to MAD80.5 billion, including MAD39.3 billion in the form of 7-day advances on tender, MAD21.2 billion through repurchase operations, and MAD20 billion in the form of support for the financing of micro, small and medium-sized enterprises.
On the interbank market, the average daily volume of trade was set at MAD4.5 billion, and the interbank rate was fixed during this period at 1.50% on average, said the Central Bank.
During the tender of April 27 (value date April 28), BAM pumped an amount of MAD49 billion in the form of advances to 7 days.
On the stock market, the MASI rose by 0.2%, bringing its year-to-date underperformance to 2.1%.
This weekly change was mainly due to increases in the “oil and gas” sector indexes by 2.9%, insurance by 2.6%, and agribusiness by 1.4%.
On the other hand, the indices for the “buildings and construction materials” and “banks” sectors fell by 1.1% and 0.7% respectively.
As for the overall trading volume, it reached MAD461.6 million, down compared to MAD474.9 million recorded a week earlier.
On the central equities market, the average daily volume amounted to MAD92.1 million, down compared to MAD93.4 million recorded last week, according to the same source.
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