Moroccan Dirham Strengthens Against Euro, Official Reserves at 328.9 Billion

During this period, no auction operation was carried out on the foreign exchange market, Bank Al-Maghrib (BAM) indicates, while specifying that as of April 22, 2022, the outstanding official reserve assets stood at 328.9 billion dirhams (MMDH), down 0.1% week-on-week and up 8.2% year-on-year.

The central bank reports that an amount of 80.5 MMDH was injected, including 39.3 MMDH in the form of 7-day advances on call for tenders and 21.2 MMDH in the form of repurchase agreements, during the same period. Similarly, 20 MMDH were injected under 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 stood at an average of 1.5%. At the call for tenders on April 27 (value date April 28), the central bank injected 49 MMDH in the form of 7-day advances.

On the stock market, the MASI depreciated by 0.2%, thus bringing its underperformance since the beginning of the year to 2.1%. This weekly change is explained by the increases in the indices of the "oil and gas" sector by 2.9%, insurance by 2.6% and agri-food by 1.4%. Conversely, those of the "building and construction materials" and banking sectors fell by 1.1% and 0.7% respectively.

As for the overall trading volume, it amounted to 461.6 million dirhams (MDH) after 474.9 MDH the previous week. As for the average daily volume on the central equity market, it stood at 92.1 MDH against 93.4 MDH the previous week.