The Moroccan dirham rose by 0.41% against the euro and dropped by 0.66% against the US dollar during the period from November 17 to 23, according to Bank Al-Maghrib (BAM).
During this period, no auctions were held in the foreign exchange market, said the central bank in its recent weekly bulletin.
As of November 17, 2022, official reserve assets reached MAD 342 billion, up 0.2% week-on-week and 6.3% year-on-year, added BAM.
The total outstanding amount of BAM’s interventions reached MAD 90.1 billion over the same period, including MAD 32.1 billion in the form of 7-day advances on tender, MAD 31 billion in long-term repurchase agreements, and MAD 26.9 billion s in long-term guaranteed loans.
On the interbank market, the average daily volume of exchanges was set at MAD 2.4 billion and the interbank rate was fixed during this period at 2% on average, said the same source.
During the tender of November 23 (value date 24 November), the Bank pumped an amount of MAD 50.9 billion in the form of 7-day advances.
For stock market indicators, the MASI recorded a rise of 2.2%, mitigating its underperformance since the beginning of the year to 18.8%, further stated the Central Bank.
This weekly change mainly reflects the increases in the indices of the banking sector by 3.7%, distributors by 3.4% and buildings and construction materials by 1.2%. On the other hand, the index of the “finance companies and other financial activities” sector and that of “hardware, software and computer services” decreased by 3.6% and 0.2% respectively, added BAM.
The global volume of trade amounted to MAD 800 million, up compared to MAD 699.1 million recorded a week earlier, according to the same source.
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