The Dirham appreciated by 1.4% against the American dollar and remained almost stable against the euro during the period from June 26 to July 2, according to Bank Al-Maghrib (BAM). During this period, no auction transactions were carried out on the foreign exchange market, says BAM in its weekly indicators bulletin

As of June 26, official reserve assets stood at 401.7 billion dirhams (BMDH), up by 0.3% from one week to the next and by 9.7% year-on-year.

Regarding the volume of BAM interventions, it stood at 132.2 billion MAD on a daily average during this period. It is divided between 7-day advances for MAD 53.2 billion, pensions delivered over a longer term for MAD 44 billion, secured loans for MAD 34.5 billion as well as 24-hour advances for an amount of MAD

On the interbank market, the average daily trade volume was MAD 9.4 billion and the interbank rate was 2.25% on average.

During the call for tenders on 2 July (value date on 3 July), the Bank injected an amount of MAD 53.4 billion in the form of 7-day advances.

On the stock market, the MASI appreciated by 0.6%, bringing its performance since the beginning of the year to 25.3%.

This evolution reflects in particular increases of 1.7% in the “Buildings and Construction Materials” index, 4.4% for the “Distributors” index, 1.7% for “Food Industry” and 1.1% for “Telecommunications”.

As for the weekly trading volume, from one week to the next, it increased from MAD 2.1 billion to MAD 3.5 billion, divided between the central equity market (MAD 2 billion) and the block market (MAD 1.4 billion).