The dirham appreciates against the dollar
Hibapress
The dirham appreciated by 0.73% against the US dollar and depreciated by 0.23% against the euro during the week of August 15-21, 2024, according to Bank Al-Maghrib (BAM).
During this period, no auction operations were carried out on the foreign exchange market, BAM specifies in its weekly bulletin.
According to the same source, official reserve assets stood at 363.6 billion dirhams (MMDH) as of August 16, down 0.3% from one week to the next and up 3.4% year-on-year.
Concerning BAM’s interventions, they amounted to a daily average of 144.8 billion dirhams. They are divided between 7-day advances for an amount of 61.1 billion dirhams, as well as longer-term repurchases and guaranteed loans for respective amounts of 49.4 billion dirhams and 34.3 billion dirhams.
On the interbank market, the average daily trading volume amounted to 3.2 billion dirhams and the interbank rate stood at 2.75% on average.
During the call for tenders of August 22 (value date August 22), the Bank injected an amount of 63.2 billion dirhams in the form of 7-day advances.
On the stock market, the MASI appreciated by 0.7%, bringing its performance since the beginning of the year to 15.1%. This development reflects in particular the increases of 2.3% of the telecommunications sector index and 0.6% of those of banks and buildings and construction materials.
In contrast, the indices for the agri-food and transport services sectors decreased by 0.5% and 1% respectively.
As for the weekly trading volume, it fell from one week to the next from 455.7 million dirhams (MDH) to 277.1 MDH, mainly on the Central market (Shares).
