The dirham depreciated by 0.37% against the US dollar and remained almost stable against the euro during the week of November 21 to 27, 2024, according to Bank Al-Maghrib (BAM).
During this period, no auction operations were carried out on the foreign exchange market, BAM reports in its weekly bulletin.
Concerning official reserve assets (AOR), they stood at 366.8 billion dirhams (MMDH) as of November 22, up 1.2% from one week to the next and 3.8% year-on-year.
The volume of Bank Al-Maghrib's interventions amounted to MAD 155.1 billion on a daily average. It is divided between 7-day advances (66.1 billion dirhams), repos delivered in the longer term (51.9 billion dirhams) and guaranteed loans (37.1 billion dirhams). On the interbank market, the average daily trading volume returned to MAD 2.4 billion and the interbank rate stood at 2.75% on average.
During the call for tenders on November 27 (value date November 28), the Bank injected MAD 59.8 billion in the form of 7-day advances.
On the stock market side, the MASI depreciated by 0.6% during this week, bringing its performance since the start of the year to 23.2%.
This weekly development reflects in particular the decreases in the indices of the telecommunications sectors by 2.2%, banks by 0.7% and buildings and construction materials by 0.4%.
On the other hand, the insurance and real estate participation and development sectors grew by 0.5% and 3.4% respectively.
As for the weekly trading volume, it stood at 1.2 billion dirhams compared to 1.4 billion dirhams a week earlier, mainly achieved at the level of the central equities market.
With MAP
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