The dirham remained almost stable against the US dollar and the euro during the period of December 12 and 18, 2024, according to Bank Al Maghrib.
During this period, no auction operations were carried out on the foreign exchange market, indicates Bank Al Maghrib (BAM) in its weekly bulletin.
The same source reports that official reserve assets stood at 369.6 billion dirhams (MMDH) as of December 13, up 0.4% from one week to the next and 1.8% in year-on-year.
Concerning the volume of BAM's interventions, it stood at 151.3 billion dirhams on a daily average from December 12 to 18, distributed between 7-day advances for an amount of 62.3 billion dirhams, as well as repo delivered at more than long-term and guaranteed loans for respective amounts of MAD 51.9 billion and MAD 37.1 billion.
On the interbank market, the average daily volume of trade amounted to MAD 2.9 billion and the interbank rate stood at 2.70% on average, after 2.75% a week earlier, in line with the recent Bank's decision to reduce the key rate by 25 basis points.
During the call for tenders on December 18 (value date December 19), the Bank injected an amount of MAD 63.5 billion in the form of 7-day advances.
On the stock market side, the MASI appreciated by 0.5% during the week of December 12 to 18, 2024, bringing its performance since the start of the year to 22.1%.
This development reflects in particular the increases in the indices of the electricity sectors (+3.8%), real estate investment companies (+1%) and banks (+0.3%). On the other hand, those of the pharmaceutical industry and insurance fell by 2.2% and 2.1% respectively.
As for the weekly trading volume, it went from 711.4 million dirhams to 7.8 billion dirhams, including 5.1 billion dirhams made on the block market (shares) and 1.1 billion under the introduction of the CMGP company to the Casablanca stock exchange.
With MAP
