Moroccan Dirham Weakens Against Euro, Gains on Dollar in Early August

During this period, no auction operation was carried out on the foreign exchange market, Bank Al-Maghrib (BAM) indicates, while specifying that as of August 5, 2022, the outstanding official reserve assets stood at 331.1 billion dirhams (MMDH), up 0.3% from the previous week and 10.1% year-on-year.

The central bank reports that an amount of 108 MMDH was injected, including 42.1 MMDH in the form of 7-day advances on call for tenders and 38.6 MMDH in the form of repurchase agreements, during the same period. Similarly, 27.1 MMDH were injected as part of the MSME financing support programs.

On the interbank market, the average daily trading volume stood at 2.7 MMDH. As for the interbank rate, it averaged 1.5%. At the tender on August 9 (value date August 10), the central bank injected 39.7 MMDH in the form of 7-day advances.

On the stock market, the MASI depreciated by 1.3%, bringing its underperformance since the beginning of the year to 10.3%. This development is explained by the increases in the sectoral indices of agri-food by 2.4%, "banks" (1.7%) and building and construction materials by 1.4%, it is specified.