The dirham has appreciated 0.39% against the dollar and has almost stabilized vis-a-vis the euro, during the period from 03 to 09 October, according to Bank Al-Maghrib (BAM) .
During this period, no auction was conducted on the foreign exchange market, says BAM in a note on its weekly indicators.
According to BAM, net international reserves stood at 232 billion dirhams (MMDH) on 4 October, down 0.4% from one week to the next, but up 3.8% year-on-year. .
As regards intervention in the money market, Bank Al-Maghrib has injected, during the same period, a total amount of 75.8 billion dirhams, of which 69 billion dirhams in the form of advances to 7 days on invitation to tender , 2.3 MMDH granted under the program of support for financing the TPME and 4.5 MMDH via a foreign exchange swap transaction.
During this period, the interbank rate stood at 2.25% and the volume of trade at 3.5 billion dirhams, the note said, adding that during the call for tenders of October 9 (date value October 10), BAM injected an amount of 64.9 billion dirhams in the form of advances at 7 days.
On the stock market, the MASI fell by 1.1% thus returning to its level of the beginning of the year, adds the same source, noting that the weekly evolution of the reference index finds its origin in particular in sector sector depreciation of 2.8% for "buildings and building materials", 1.7% for "real estate" and 1.4% for "banks".
Conversely, the index for the insurance sector rose by 1%.
The overall volume of trade was established at 525 million dirhams (MDH) against 1.3 billion dirhams a week earlier. On the central equity market, the average daily trading amount fell to 76.4 million dirhams against 137.4 million dirhams a week earlier.
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