The dirham appreciates by 0.20% against the euro (BAM)

The dirham appreciated by 0.20% against the euro and 0.56% against the US dollar, during the period from June 16 to June 22, 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 June 17, official reserve assets stood at 323.3 billion dirhams (MMDH), up 0.8% week-on-week and 7.4% year-on-year.

During the same period, the overall outstanding balance of Bank Al-Maghrib’s interventions amounted to 96.5 billion dirhams, including 44.9 billion dirhams in the form of 7-day advances on calls for tenders, 29.1 billion dirhams in the form of of repurchase transactions, 22.2 billion dirhams under the support program for the financing of VSMEs and 250 million (MDD) for foreign exchange swap transactions.

On the interbank market, the average daily volume of trade stood at 2.8 billion dirhams and the interbank rate stood at an average of 1.50% during this period, specifies the bulletin, noting that during the he call for tenders of June 22 (value date June 23), the Bank injected an amount of 32.9 billion dirhams in the form of 7-day advances.

On the stock market, the MASI fell back by 2.7%, bringing its underperformance since the start of the year to 10%. This change mainly reflects the declines in the indices of the sectors of “Banks” by 2.9%, “Buildings and construction materials” by 2.7% and “Telecommunications” by 2.4%.

On the other hand, those relating to the “leisure and hotel” and “holding companies and holding companies” sectors increased by 5.1% and 2.6% respectively.

As for the overall volume of trade, it amounted to 1.5 billion dirhams against 676.3 million dirhams a week earlier. On the central equity market, the average daily volume amounted to 198.1 MDH after 135.3 MDH and the turnover on the block market stood at 438 MDH.

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