the dirham depreciated by 1.14% against the euro

The dirham depreciated by 1.14% against the euro and appreciated by 0.29% against the US dollar during the period from July 14 to 20, 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 last weekly bulletin.

As of July 15, 2022, official reserve assets stood at 331.2 billion dirhams (MMDH), up 1.8% week-on-week and 10% year-on-year.

During the same period, the overall outstanding amount of BAM’s interventions amounted to 114.3 billion dirhams, including 52.1 billion dirhams in the form of 7-day advances on calls for tenders, 37.6 billion dirhams in the form of repurchase agreement, 23.7 billion dirhams under the very small, small and medium-sized enterprise (TPME) financing support program and 900 million dirhams (MDH) for foreign exchange swap transactions.

On the stock market, the MASI rose by 1.3%, bringing its underperformance since the start of the year to 10.6%. This change mainly reflects the appreciation of the indices of the telecommunications sectors by 4.7%, buildings and construction materials (+1.2%) and banks (+0.8%).

Conversely, those relating to the transport services and real estate investment companies sectors fell by 0.8% and 1.3%, respectively, notes BAM. As for the overall volume of trade, it increased, from one week to the next, from 448.6 MDH to 693.9 MDH, including 171.7 MDH for the IPO of the company. Disty Technologies on the new alternative market dedicated to SMEs. On the central equity market, the average daily volume stood at 48.1 MDH after 74.8 MDH last week.


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