The dirham appreciated by 0.39% against the US dollar and depreciated by 0.39% against the euro during the week of May 9 to 15, according to Bank Al-Maghrib (BAM).
During this period, no auction operations were carried out on the foreign exchange market, indicates BAM in its weekly bulletin, specifying that official reserve assets stood at 373.8 billion DH as of May 10, 2024. , almost stagnating from one week to the next and up 5% year-on-year.
BAM’s interventions stood at a daily average of 112.7 billion DH. They are distributed between 7-day advances for an amount of 28.3 billion DH, as well as long-term repos and guaranteed loans for respective amounts of 51.8 billion DH and 32.6 billion DH .
On the interbank market, the average daily volume of trade stood at 1.9 billion DH and the interbank rate stood at 3% on average.
During the call for tenders on May 15 (value date May 16), the Bank injected an amount of 30.1 billion DH in the form of 7-day advances.
On the stock market, the MASI did not experience any significant variation during the period from May 9 to 15, bringing its performance since the start of the year to 11%. This weekly development mainly covers increases in the indices of the “real estate participation and promotion” sectors of 10.5%, “buildings And construction materials” by 1.8% and “mining” by 1.7%.
In contrast, the “real estate investment trust” and “electricity” sectors declined by 3.6% and 6.3% respectively.
As for the weekly trading volume, it increased from 926.7 million DH to 2.5 billion DH, including 1.4 billion DH achieved at the block market level.
