Heba Press – Economic Section
The Bank of Morocco indicated that the exchange rate of the dirham increased by 1.47 percent against the euro and decreased by 1.06 percent against the US dollar, during the period from 7 to November 13.
The Bank of Morocco explained, in its weekly bulletin, that no tender procedure was carried out on the foreign exchange market during this period.
The same source indicates that as of November 8, official reserve assets amounted to 360.1 billion dirhams, recording a drop of 0.1% from one week to the next and an increase of 1 .6% on an annual basis.
On the other hand, during the week from November 7 to 13, Bank Al-Maghrib pumped, on a daily average, 152.5 billion dirhams, distributed between 7-day advances amounting to 63.5 billion dirhams , long-term repurchase transactions and equivalent secured loans. at respectively 51 billion dirhams, 8 billion dirhams and 37.3 billion dirhams.
At the level of the interbank market, the average daily trading volume reached 2.4 billion dirhams, and the interbank rate reached 2.75% on average.
During the call for tenders on November 13 (deadline November 14), the bank injected an amount of 63 billion dirhams in the form of advances for a period of 7 days.
Regarding the stock market, the “MASI” index increased by 2.7 percent, bringing its performance since the beginning of this year to 21.4 percent. This weekly development mainly reflects the evolution of indicators in the sectors “Transport Services” by 11.6 percent, “Banks” by 3.2 percent and “Buildings and construction materials” by 2.6 percent.
In contrast, indicators for the beverage and electricity sectors recorded declines of 3 percent and 3.3 percent, respectively.
Concerning the weekly trading volume, it amounted to 3.4 billion dirhams after having reached 1.4 billion dirhams a week ago, including 2.2 billion dirhams at the level of the Central Stock Exchange, and 1 billion dirhams to the public purchase offer for shares of the Bank of Morocco.
