weekly BAM injections remain below DH 80 billion

The dirham appreciated 0.24% against the euro and depreciated 0.29% against the US dollar during the period from May 27 to June 2, 2021, according to Bank Al- Maghrib (BAM).

During this period, no auction operations were carried out on the foreign exchange market, indicates BAM in its latest bulletin of weekly indicators.

As of May 28, 2021, the outstanding official reserve assets (AOR) stood at MAD 304.5 billion (billion dirhams), up 0.4% from one week to the next and from 5. 4% year-on-year.

The overall outstanding amount of Bank Al-Maghrib interventions stands at MAD 77.8 billion, of which MAD 31 billion in the form of 7-day advances on call for tenders, MAD 16.9 billion in the form of repo transactions and 29, 9 billion dirhams within the framework of the support programs for the financing of the TPME.

On the interbank market, the average daily volume of trade stood at MAD 4.7 billion and the interbank rate during this period stood at 1.5% on average. During the call for tenders on June 2 (value date June 3), the Central Bank injected an amount of MAD 28.4 billion in the form of 7-day advances.

On the stock market, the Masi has appreciated by 1.3%, bringing its performance since the start of the year to 8.7%. This weekly change reflects, in particular, the increases in the sector indices of “Agri-food” by 3.5%, “Buildings and construction materials” by 2.8% and “Banks” by 0.6%.

Conversely, the indices of the “Oil and Gas” and “Beverages” sectors recorded respective decreases of 1.7% and 0.5%.

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As for the overall volume of trade, it stood at MAD 595.7 million (MDH) against MAD 2.9 billion a week earlier, BAM reports, noting that on the central equity market, the average daily volume totaled 117.9 million after 129.7 million the previous week.

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