Moroccan Dirham Fluctuates: Gains Against Dollar, Slips Versus Euro

During this period, no auction operation was carried out on the foreign exchange market, Bank Al-Maghrib (BAM) indicates, while specifying that as of December 31, 2021, the outstanding official reserve assets stood at 331.2 billion dirhams (MMDH), up week-on-week by 0.3% and year-on-year by 3.3%, the same source said.

BAM reports that an amount of 91.2 MMDH was injected, including 47.3 MMDH in the form of 7-day advances on call for tenders and 22.8 MMDH in the form of repurchase agreements, during the same period. Similarly, 21.2 MMDH were injected under the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 3.9 MMDH. As for the interbank rate, it stood at an average of 1.5%. At the call for tenders on January 5 (value date January 6), the central bank injected 28.8 MMDH in the form of 7-day advances.

On the stock market, the MASI depreciated by 0.7% over the same period. This development is explained by the declines in the indices of the "oil and gas" sector by 4.6%, the "buildings and construction materials" sector by 1.2% and the banks by 0.6%. Conversely, the indices of the "distributors" and "transport companies" sectors increased by 1.3% and 0.7% respectively.

As for the overall trading volume, it amounted to 1.6 MMDH, after 10.3 MMDH a week earlier. As for the average daily volume on the central equity market, it stood at 173.3 MDH against 901.1 MDH the previous week.