The Moroccan dirham dropped by 1.85% against the euro and rose by 1.90% against the US dollar during the period from September 29 to October 5, 2022, according to Bank Al-Maghrib (BAM).
During this period, no auctions were conducted on the foreign exchange market, the central bank said in its recent weekly bulletin.
As of September 30, official reserve assets reached MAD 340.7 billion , up 1.1% week-on-week and 7.2% year-on-year, added BAM.
During the same period, BAM’s total outstanding interventions amounted to MAD 104.8 billion, including MAD 50.8 billion in the form of 7-day advances on call for tenders, MAD 30.9 billion in long-term repurchase agreements and MAD 23.2 billion in long-term guaranteed loans.
On the interbank market, the average daily volume of exchanges was established at MAD 7 billion and the interbank rate was fixed during this period at 2% on average, added the same source.
During the call for tenders of October 5 (value date October 6), the Bank pumped an amount of MAD 48.6 billion in the form of 7-day advances.
On the stock market, the Masi dropped by 1.2%, bringing its counter-performance since the beginning of the year to 12.7%.
This weekly evolution reflects mainly the declines of the building and construction materials sector indices by 3%, the food sector by 2.8% and the banking sector by 1.1%.
In contrast, the indices for the real estate investment companies and oil and gas sectors rose by 1% and 0.5% respectively, said the same source.
The overall trading volume for the week totaled MAD 923.6 million, down compared to MAD 1.1 billion recorded a week earlier, added BAM.
On the central stock market, the average daily volume reached MAD 183.7 million, down compared to MAD 219.3 million recorded last week, according to the same source.
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