This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press – MA
The Bank of Morocco indicated that the exchange rate of the dirham increased by 1.4 percent against the euro and by 0.6 percent against the US dollar, during the period from January 2 to 8 2025.
The Central Bank explained in its weekly bulletin that no tender process was carried out on the foreign exchange market during this period.
The same source explains that as of January 3, 2025, official reserve assets amounted to 373.2 billion dirhams, recording a drop of 0.6% from one week to the next and an increase of 4.9 % on an annual basis.
During the aforementioned week, the Bank of Morocco pumped, on a daily average, 144.2 billion dirhams, distributed between 7-day advances amounting to 60.2 billion dirhams, and long-term repo operations. term and guaranteed loans equivalent to 49.6 billion dirhams and 34 billion dirhams respectively.
At the interbank market level, the average daily trading volume reached 2.6 billion dirhams, while the interbank rate reached 2.5% on average.
During the call for tenders on January 8 (deadline January 9), the bank injected an amount of 53.4 billion dirhams in the form of 7-day advances.
Regarding the stock market, the “MASI” index increased by 6.4 percent. This weekly development mainly reflects the increase in the indicators of “banks” by 6 percent, “buildings and construction materials” by 7.2 percent, “transport services” by 13.8 percent and “contributions and real estate recovery” of 16.2 percent.
Concerning the weekly trading volume, it decreased from one week to the next, going from 7.3 billion dirhams to 4.2 billion dirhams, most of which took place at the central market level.
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