Moroccan Dirham Strengthens Against Euro, Official Reserves Rise to 329.2 Billion

During this period, no foreign exchange auction operation was carried out, Bank Al-Maghrib (BAM) indicates, while specifying that as of April 29, 2022, the outstanding official reserve assets stood at 329.2 billion dirhams (MMDH), up 0.1% from the previous week and 8.3% year-on-year.

The central bank reports that an amount of 91.5 MMDH was injected, including 49 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, 21.3 MMDH were injected under the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 4 MMDH. As for the interbank rate, it averaged 1.5%.

On the stock market, the MASI gained 0.5%, reducing its underperformance since the beginning of the year to 1.6%. This weekly change is explained by the increases in the indices of the agri-food sector by 1.5%, the building and construction materials sector by 1.6% and the electricity sector by 2.2%. Conversely, those of the transport companies and insurance sectors fell by 1.8% and 0.6% respectively.

As for the overall trading volume, it amounted to 287.4 million dirhams (MDH) after 461.6 MDH the previous week. Regarding the average daily volume on the central equity market, it stood at 95.8 MDH against 92.1 MDH the previous week.