Moroccan Dirham Holds Steady Against Euro, Dips Slightly vs Dollar

During this period, no offer was recorded in the context of foreign exchange auctions, Bank Al-Maghrib (BAM) indicates, while specifying that as of January 14, 2022, the outstanding official reserve assets stood at 328.3 billion dirhams (MMDH), down 0.5% from the previous week and up 6.2% year-on-year.

BAM reports that an amount of 74.4 MMDH was injected, including 30.4 MMDH in the form of 7-day advances on tender and 22.8 MMDH in the form of repurchase operations, 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 4.3 MMDH. As for the interbank rate, it stood at an average of 1.5%. At the tender on January 19 (value date January 20), the central bank injected 28.8 MMDH in the form of 7-day advances.

On the stock market, the MASI appreciated by 1.5%, thus bringing its performance since the beginning of the year to 2.8%. This development is explained by the increases in the indices of the banking sector by 1%, the distributors by 6.1% and the electricity sector by 12.8%. Conversely, those of the "telecommunications" and "transport" sectors decreased by 0.1% and 2.4% respectively.

As for the overall trading volume, it reached 1.2 MMDH after 831.3 MMDH the previous week. As for the average daily volume on the central equity market, it stood at 188.5 MDH against 141 MDH the previous week.