The Moroccan dirham remained almost stable against the U.S. dollar and dropped by 0.26% against the euro during the period from July 28 to August 3, according to Bank Al-Maghrib (BAM).
During this period, no auctions were conducted in the foreign exchange market, the central bank said in its latest weekly note.
As of July 29, official reserve assets reached MAD 330.1 billion, up 1.1% week-on-week and 9.7% year-on-year, added BAM.
During the same period, the total outstanding amount of BAM’s interventions amounted to MAD 104.1 billion, including MAD 38.3 billion in the form of 7-day advances on tender, MAD 38.6 billion through repurchase operations, and MAD 27.1 billion for the financing of micro, small and medium-sized enterprises.
On the interbank market, the average daily volume of exchanges was set at MAD 3.7 billion and the interbank rate during this period was fixed at 1.50% on average, further stated the same source.
During the August 3 tender (value date August 4), the Bank injected an amount of MAD 42.3 billion in the form of 7-day advances.
On the stock market, the Masi index recorded a 0.5% increase, bringing its year-to-date underperformance to 11.4%, added BAM.
The overall volume of trade reached MAD 234.4 million, up compared to 219.4 million recorded a week earlier.
On the central market shares, the average daily volume amounted to MAD 46.7 million, up compared to MAD 42.8 million recorded in the past week, according to the same source.
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