Bank Al-Maghrib (BAM) released Saturday its weekly indicators for the period from September 1 to 7, stating the Moroccan dirham rose by 0.29% against the euro and dropped by 0.59% against the US dollar.
As of September 2, 2022, official reserve assets reached MAD 337.4 billion , down by 0.3% week-on-week and up by 8% year-on-year
During the same period, the total outstanding amount of BAM interventions amounted to MAD 103.3 billion, including MAD 38.9 billion in the form of 7-day advances on tender, MAD 39.8 billion in the form of repurchase agreements and MAD 24.6 billion in the form of the support program for the financing of micro, small and medium-sized enterprises (SMEs).
On the interbank market, the average daily trading volume reached MAD 2.3 billion and the interbank rate averaged 1.5% during this period.
During the tender of September 7 (value date September 8), the Bank injected an amount of MAD 36.2 billion in the form of 7-day advances.
On the stock market, the Masi rose slightly by 0.2%, bringing its year-to-date underperformance to 9%.
This weekly change mainly reflects increases in the indices of the food and beverages sector by 4%, mining by 2.8% and “buildings and construction materials” by 0.7%.
On the other hand, the indices of the telecommunications and “oil and gas” sectors decreased by 2.4% and 1.6% respectively.
The overall trading volume amounted to MAD 714.2 million, up compared to MAD 227.4 million recorded a week earlier, added BAM.
On the central equities market, the average daily volume reached MAD 142.8 million, up compared to MAD 45.4 million recorded last week, according to the same source.
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