Moroccan Dirham Slips Against Euro, Holds Steady vs Dollar: Central Bank Report

During this period, no foreign exchange auction was carried out, BAM indicates, while specifying that as of May 21, 2021, the outstanding official reserve assets stood at 303.5 billion dirhams (MMDH), up 0.4% from the previous week and up 5.6% year-on-year.

BAM reports that an amount of 77 MMDH was injected, including 31.4 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, 28.7 MMDH were injected under the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 4.9 MMDH. As for the interbank rate, it averaged 1.5%. At the May 19 call for tenders (value date May 27), the central bank injected 31 MMDH in the form of 7-day advances.

On the stock market, the MASI recorded a decrease of 0.7%, bringing its underperformance since the beginning of the year to 0.5%. This development is explained by the underperformance of the sectoral indices of "mining" by 7.2%, "agri-food" by 2.4% and "banks" by 0.8%. Conversely, the indices of the "real estate" and "distribution" sectors increased by 1.7% and 1.6% respectively.