The dirham appreciates against the dollar

Bank Al-Maghrib (BAM) reported that during the period from August 4 to August 10, the dirham appreciated by 0.28% against the US dollar and depreciated by 0.12%. % against the euro.

In its last weekly bulletin, BAM specifies that during this period, no auction operation was carried out on the foreign exchange market.

As of August 5, 2022, official reserve assets stood at 331.1 billion dirhams (MMDH), up 0.3% week-on-week and 10.1% year-on-year.

During the same period, the overall outstanding amount of BAM’s interventions amounted to 108 billion dirhams, including 42.3 billion dirhams in the form of 7-day advances on calls for tenders, 38.6 billion dirhams in the form of repurchase transactions delivered and 27.1 billion dirhams under the program to support the financing of very small, small and medium-sized enterprises (TPME).

On the interbank market, the average daily volume of trade stood at 2.7 billion and the interbank rate stood at 1.50% on average during this period, notes BAM.

During the call for tenders of August 9 (value date August 10), the Bank injected an amount of 39.7 billion dirhams in the form of 7-day advances.

On the stock market, the MASI was up 1.3%, bringing its poor performance since the start of the year to 10.3%, the Central Bank said.

This weekly evolution mainly reflects increases in the indices of the agri-food sectors by 2.4%, banks by 1.7% and buildings and construction materials by 1.4%.


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