The dirham gains value against the euro

As of September 1, 2023, official reserve assets stood at 359 billion dirhams (MMDH), up 1% from the previous week and 6.4% year-on-year, the same source said.

During the week of August 31 to September 6, the overall outstanding amount of BAM interventions stood at 98.5 MMDH, including 32.7 MMDH in the form of 7-day advances on tenders, 41.3 MMDH in long-term repurchase agreements, and 24.5 MMDH in long-term guaranteed loans. On the interbank market, the average daily trading volume was 3.3 billion and the interbank rate averaged 3%.

This weekly change mainly reflects declines in the indices of the "buildings and construction materials" sectors of 5.2%, "oil and gas" of 4.6% and "insurance" of 3.6%.

Conversely, those related to the "real estate" and "computer hardware, software and services" sectors increased by 14.4% and 3.1% respectively.