Moroccan Dirham Holds Steady Against Euro and Dollar, Reserves at 330.2 Billion

During this period, no foreign exchange auction was carried out, Bank Al-Maghrib (BAM) indicates, specifying that as of December 24, 2021, the outstanding official reserve assets stood at 330.2 billion dirhams (MMDH), down 0.1% from the previous week and up 4.3% year-on-year.

BAM reports that an amount of 76.2 MMDH was injected, including 32.3 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 as part of the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 4.5 MMDH. As for the interbank rate, it averaged 1.5%. At the call for tenders on December 29 (value date December 30), the central bank injected 47.3 MMDH in the form of 7-day advances.

On the stock market, the MASI appreciated by 1.4%, bringing its performance since the beginning of the year to 12.9%. This development is explained by the increases in the indices of the "oil and gas" sector by 6.7%, banks by 1.4% and telecommunications by 1.2%. Conversely, the indices of the "financing companies and other financial activities" and "leisure and hotels" sectors decreased by 2.1% and 3.6% respectively.

As for the overall trading volume, it amounted to 10.3 MMDH, after 7.3 MMDH the previous week. Regarding the average daily volume on the central equity market, it stood at 901.1 MDH against 176.6 MDH the previous week.