Up 8% in one year, official reserve assets strengthened during the month of February to their all-time high, i.e. more than 332 billion dirhams (MMDH).
According to Attijari Global Research (AGR), the month of January 2022 ended with a liquidity deficit of 62.9 billion dirhams, a widening of 3.1 billion dirhams compared to the same period in 2021, indicates AGR in its recent note “Weekly Hebdo Rates – Fixed Income”.
While satisfying all banking demand, Bank Al-Maghrib is increasing its weekly interventions for the second consecutive week through its main operations. Liquidity injections thus went from 75.2 billion dirhams to 78.3 billion dirhams, notes the same source. Indeed, average investments fell in one week by 5.7 billion dirhams from 17.2 billion dirhams to 11.5 billion dirhams.
Under these conditions, interbank rates remain in line with the key rate while MONIA rates increase slightly by 1 Pb to 1.43%observes AGR.
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