As of March 31, 2023, foreign exchange reserve assets stood at 361.2 billion dirhams (MMDH), down 0.6% from one week to the next, and up 8.6% in year-on-year, according to Bank Al-Maghrib.
The dirham appreciated by 0.32% against the US dollar and depreciated by 0.57% against the euro, during the period from March 30 to April 5, according to Bank Al- Maghreb (BAM).
During this period, no auction operation was carried out on the foreign exchange market, indicates BAM in its recent weekly bulletin.
As of March 31, 2023, official reserve assets stood at 361.2 billion dirhams (MMDH), down 0.6% week-on-week, and up 8.6% year-on-year annual, adds the same source. During the same period, the overall outstanding balance of BAM’s interventions came to 89.1 billion dirhams, including 55.1 billion dirhams in the form of 7-day advances on calls for tenders, 16.4 billion dirhams in repos delivered to long-term, and 17.6 billion dirhams of long-term guaranteed loans.
On the interbank market, the average daily volume of trade stood at 3 billion dirhams, and the interbank rate stood at 3.00% on average during this period.
During the call for tenders of April 5 (value date April 6), the Bank injected an amount of 43.4 billion dirhams in the form of 7-day advances.
On the stock market, the MASI fell by 0.4%, bringing its poor performance since the start of the year to 2.2%. This weekly evolution mainly reflects the declines in the indices of the insurance sectors by 2.9%, mining by 1% and “real estate investment companies” by 0.7%. On the other hand, those relating to the agro-food and real estate sectors appreciated by 1.1% and 3.3% respectively. As for the overall volume of trade, it reached 864.3 million dirhams (MDH), against 285.2 MDH a week earlier. On the central equity market, the average daily volume amounted to 144.2 MDH, after 37.6 MDH.