The Moroccan dirham rose by 1.62% against the US dollar and depreciated by 1.04% against the euro during the period from October 20 to 26, according to Bank Al-Maghrib (BAM).
During this period, no auctions were held on the foreign exchange market, said the central bank in its recent weekly bulletin.
As of 21 October 2022, official reserve assets reached MAD 337.6 billion, down by 0.3% week-on-week and up 4.4% year-on-year, added BAM.
During the same period, the total outstanding amount of BAM’s interventions amounted to MAD 104.9 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 4.7 billion and the interbank rate was fixed during this period at 2% on average.
During the call for tenders on 26 October (value date 27 October), the Bank pumped an amount of MAD 42.9 billion, in the form of 7-day advances.
On the stock market, the Masi fell by 5%, bringing its counter-performance since the beginning of the year to 19.6%.
This weekly change mainly reflects the declines in the telecommunication sector indices by 9.7%, banks by 7.1% and buildings and construction materials by 3.2%.
In contrast, the chemical and “finance companies and other financial activities” sectors rose by 2.7% and 1.7% respectively.
During the same period, the global volume of exchanges amounted to MAD 396.5 million, and the average daily volume on the central stock market totaled MAD 54.5 million.
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