The dirham depreciated by 0.7% against the US dollar and appreciated by 0.29% against the euro during the period from December 19 to 24, 2024, according to Bank Al-Maghrib ( BAM).
During this period, no auction operations were carried out on the foreign exchange market, specifies BAM in its weekly bulletin.
As of December 20, 2024, official reserve assets stood at 373.1 billion dirhams (billion dirhams), up 0.9% from one week to the next and 4% year-on-year.
During the week of December 19 to 25, the volume of BAM interventions amounted to 147.5 billion dirhams on a daily average. It is divided between 7-day advances (63.5 billion dirhams), repos delivered in the longer term (49.6 billion dirhams) and guaranteed loans (34.4 billion dirhams). On the interbank market, the average daily trading volume returned to MAD 1.6 billion and the interbank rate stood at 2.5% on average. During the call for tenders on December 25 (value date December 26), the Bank injected an amount of MAD 72.6 billion in the form of 7-day advances.
On the stock market, the MASI depreciated by 1.1% from December 19 to 25, bringing its performance since the start of the year to 20.8%.
This weekly development notably reflects the declines in the indices of the banking sectors by 0.9%, buildings and construction materials by 1.9% and real estate by 3.6%.
On the other hand, the distributors and insurance sectors grew by 0.8% and 3.2% respectively. As for the weekly trading volume, it increased from one week to the next from 7.8 billion dirhams to nearly 11 billion dirhams, including 8.8 billion dirhams made on the stock block market, BAM reports, noting that the block market saw on December 19, 2024 an exchange of 353,551 shares of Compagnie de Transports au Maroc (CTM) at a unit price of 800 dirhams.
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