Change: The dirham appreciates by 0.5% against the euro

Bank Al-Maghrib (BAM) said that during the period from April 29 to May 05, the dirham appreciated by 0.5% against the euro and remained almost stable against the American dollar.

In its latest bulletin of weekly indicators, BAM specifies that during this period, no auction operations were carried out on the foreign exchange market.

As of April 30, 2021, the outstanding official reserve assets remained almost stable from one week to the next at 304 billion dirhams (billion dirhams) and increased by 6.1% year-on-year, the same source said.

The overall outstanding amount of Bank Al-Maghrib interventions stands at MAD 74.7 billion, of which MAD 30.6 billion in the form of 7-day advances on call for tenders, MAD 15 billion in the form of repo operations delivered and 29, 1 billion dirhams within the framework of the support programs for the financing of the TPME.

On the interbank market, the average daily volume of trade stood at 4.8 billion dirhams and the interbank rate during this period was 1.5% on average.

During the call for tenders on May 5 (value date May 6), Bank Al-Maghrib injected an amount of MAD 32.6 billion in the form of 7-day advances.

On the stock market, the MASI has appreciated by 1.5%, bringing its performance since the beginning of the year to 5.9%, revealed the same source, noting that this weekly evolution is due in particular to the sector indexes growth of 1.8% and telecommunications 1.7%.

In contrast, the indices relating to the “hardware, software and computer services” and “electricity” sectors fell by 0.7% and 0.5% respectively.

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Regarding the overall volume of trade, it reached 1.3 billion dirhams against 537.1 million dirhams (MDH) a week earlier. On the central equity market, the average daily volume amounted to MAD 262.3 million after MAD 107.3 million the previous week.

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