The dirham appreciated by 1.16% once morest the euro and 0.26% once morest the US dollar during the period from September 15 to 21, according to Bank Al-Maghrib (BAM).
During this period, no auction operation was carried out on the foreign exchange market, indicates the Central Bank in its recent weekly bulletin.
As of September 16, 2022, official reserve assets stood at 340.8 billion dirhams (MMDH), down 0.6% week-on-week and up 9.3% year-on-year , notes BAM.
During the same period, the overall outstanding amount of BAM’s interventions amounted to 101.7 billion dirhams, including 37.3 billion dirhams in the form of 7-day advances on calls for tenders, 39.8 billion dirhams of outstanding pensions delivered on a long-term basis and 24.6 billion dirhams of long-term guaranteed loans.
On the interbank market, the average daily volume of trade stood at 2.7 billion dirhams and the interbank rate stood at 1.5% on average during this period, the Central Bank said.
During the September 21 call for tenders (value date September 22), the Bank injected an amount of 39.1 billion dirhams in the form of 7-day advances.
On the stock market, the Masi recorded an increase of 0.7%, bringing its poor performance since the start of the year to 8.4%.
This weekly trend mainly covers appreciations of the indices of the insurance sectors by 7.1%, electricity by 4.4% and buildings and construction materials by 0.9%.
On the other hand, the transport, real estate and transport services indices fell by 8.5%, 2.3% and 0.4% respectively.
As for the overall volume of trade, it amounted to 2.4 billion dirhams once morest 419.2 million dirhams (MDH) a week earlier. On the central equity market, the average daily volume stood at 68.3 MDH following 83.4 MDH.