The Moroccan dirham dropped by 0.61% against the euro, and 0.40% against the US dollar, during the period from May 5 to 11, said Bank Al-Maghrib (BAM) in its weekly bulletin.
During this period, no auction operations were carried out on the foreign exchange market, said the Central Bank.
As of May 6, the official reserve assets reached MAD 328.3 billion, down 0.3% week-on-week, and up 8.3% year-on-year.
During the same period, BAM’s total outstanding operations amounted to MAD 89.3 billion, of which MAD 46.8 billion were made in the form of 7-day advances on tender, MAD 21.2 billion through repurchase operations, and MAD 21.3 billion in the form of financing support program of micro, small and medium-sized enterprises.
On the interbank market, the average daily volume of exchanges was set at MAD 4.6 billion and the interbank rate was fixed at 1.50% on average, added the Central Bank.
During the tender of May 11 (value date May 12), it pumped an amount of MAD 50.2 billion in the form of 7-day advances.
On the stock market, MASI recorded a decline of 3.8%, bringing its underperformance since the beginning of the year to 5.3%.
This decrease in the stock market came after drops were recorded in “buildings and construction materials” sector indices by 4.8%, telecommunications by 4.2%, and banking services by 3.7%.
The overall trading volume reached MAD 530.5 million, up compared to MAD 287.4 million recorded a week earlier, said the same source.
On the central equities market, the average daily volume amounted to MAD 99.9 million, up compared to MAD 95.8 million recorded previously, according to the same source.
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