Moroccan Dirham Holds Steady Against Euro, Dips Slightly vs Dollar

During this period, no auction operation was carried out on the foreign exchange market, Bank Al-Maghrib (BAM) indicates, while specifying that as of January 21, 2022, the outstanding official reserve assets stood at 329.1 billion dirhams (MMDH), up 0.2% from the previous week and 6.3% year-on-year, the same source said.

BAM reports that an amount of 74.3 MMDH was injected, including 34.1 MMDH in the form of 7-day advances on call for tenders and 22.7 MMDH in the form of repurchase agreements, during the same period. Similarly, 17.6 MMDH were injected as part of the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 4.2 MMDH. As for the interbank rate, it stood at an average of 1.5%. On the stock market, the MASI depreciated by 0.1%, thus bringing its performance since the beginning of the year to 2.7%. This development is explained by the decline in the indices of the "telecommunications" sector by 1.3%, the "transport services" sector by 1.6% and the "distributors" sector by 2.1%. Conversely, those of the "oil and gas" and "buildings and construction materials" sectors increased by 2.9% and 1% respectively.

As for the overall trading volume, it amounted to 1.3 MMDH after 1.2 MMDH the previous week. As for the average daily volume on the central equity market, it stood at 229.5 MDH against 188.5 MDH the previous week.