Moroccan Dirham Holds Steady Against Euro, Gains on US Dollar

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates, while specifying that as of June 4, 2021, the outstanding official reserve assets stood at 303.6 billion dirhams (MMDH), down 0.3% from the previous week and up 5.6% year-on-year.

BAM reports that an amount of 75.1 MMDH was injected, including 28.4 MMDH in the form of 7-day advances on call for tenders and 16.9 MMDH in the form of repurchase agreements, during the same period. Similarly, 29.9 MMDH were injected under the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 4.4 MMDH. As for the interbank rate, it averaged 1.5%. At the June 9 call for tenders (value date June 10), the central bank injected 30.8 MMDH in the form of 7-day advances.

On the stock market, the MASI gained 0.7%, bringing its performance since the beginning of the year to 9.5%. This development is explained by the increases in the sectoral indices of "real estate" by 16.6%, "software and computer services" by 6.3% and "agri-food" by 3.3%. Conversely, the indices of the "telecommunications" and "mining" sectors fell by 1.7% and 1.3% respectively.

As for the overall trading volume, it amounted to 1.3 MMDH. Regarding the average daily volume on the central equity market, it stood at 249.9 million dirhams.