BAM's weekly indicators in 5 key points

Here are five key points from Bank Al-Maghrib (BAM) weekly indicators for the period from December 15 to 21, 2022:

1- The dirham depreciated by 0.10% against the euro and by 0.47% against the US dollar;

2- No auction operation was carried out on the foreign exchange market;

3- As of December 16, 2022, official reserve assets stood at 328.4 billion dirhams (MMDH), down 0.6% from one week to the next;

4- The overall outstanding balance of BAM’s interventions amounts to 103.9 billion dirhams, including 56.3 billion dirhams in the form of 7-day advances on call for tenders, 22.1 billion dirhams of outstanding long-term repos delivered and 25.5 billion dirhams of long-term guaranteed loans;

5- On the interbank market, the average daily volume of trade stood at 8.8 billion dirhams and the interbank rate stood at 2.08% on average, integrating the effect of the Bank’s decision to increase the key rate of 50 basis points, taken on December 20.

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