The money market maintained its balance during the week of December 27 to January 2, according to Attijari Global Research (AGR). This stability comes as currency circulation reached a record level of 429 billion dirhams at the end of November 2024.
Liquid investments also reached a new historic high of 974 billion dirhams during this period, demonstrating strong confidence in the Moroccan financial system. Faced with this situation, Bank Al-Maghrib (BAM) continued to respond to the demand of the banking system by adjusting its interventions.
The outstanding amount of BAM interventions decreased, from 156.6 billion dirhams to 144.2 billion dirhams in one week. This drop was mainly linked to a reduction in 7-day advances, which fell by 12.4 billion dirhams, reaching 60.2 billion dirhams.
Despite this drop, BAM kept its long-term injections stable, with an outstanding amount of 84 billion dirhams through delivered repos and guaranteed loans.
The weighted average rate (TMP) recorded a slight disruption, reaching 2.51% on a weekly average, while MONIA Rates increased by 4 basis points compared to the previous week, reaching 2.49%.
Thus, the money market continues to display stable dynamics, supported by prudent liquidity management by Bank Al-Maghrib and high levels of confidence in the Moroccan economy.
M.Ba.
Canada
