The dirham loses value against the euro

During this period, no auction operation was carried out on the foreign exchange market, indicates BAM, while specifying that on July 24, official reserve assets stood at 293 billion dirhams (billion dirhams), in growth of 25.2% year-on-year.

The central bank injected a total of 118.9 billion dirhams, including 40 billion dirhams in the form of 7-day advances on call for tenders, 44 billion dirhams in the form of repo operations, 31.8 billion dirhams under the program support for financing the TPME and MAD 3 billion for foreign exchange swap operations.

Regarding the daily volume of trade on the interbank market, it stood at 5.4 billion dirhams. As for the interbank rate, it stood at 1.5% on average during the period. BAM informs that it injected an amount of 38.1 billion dirhams in the form of 7-day advances during the call for tenders of July 29 (value date July 30).

If on the stock market, the Masi appreciated by 0.1%, thus reducing its underperformance since the start of the year to 16%, this has encouraged the increase in sectoral indices of “banks” by 2, 8% and “insurance” 1.7%. In contrast, the indices of the “building and construction materials” and “telecommunications” sectors fell by 2.3% and 1.1% respectively.

The overall volume of trade stood at 429.4 million dirhams against 272.5 million a week earlier. In the central equity market, the average daily volume reached 85.7 million after 46.8 million a week earlier.

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