top of page
GlobalCash Maroc

GlobalCash

The dirham rises by 0.27 percent against the dollar


The Bank of Morocco reported that the dirham's exchange rate remained almost stable against the euro, and rose by 0.27 percent against the US dollar, during the week extending from January 18 to 24.

Bank Al-Maghrib explained, in its latest weekly bulletin, that no tender process was conducted in the exchange market during this period.

The same source highlighted that official reserve assets amounted to 354.1 billion dirhams on January 19, a decrease of 0.6 percent from week to week, and an increase of 5.8 percent on an annual basis.




Regarding Bank Al-Maghrib’s interventions, they amounted, on a daily average, to 126.3 billion dirhams, of which 51.8 billion dirhams were in the form of 7-day advances, 48.2 billion dirhams in the form of long-term repurchase operations, and 26.4 billion dirhams. Dirhams in the form of secured loans.

At the interbank market level, the average daily trading volume reached 1.7 billion dirhams, while the interbank rate reached 3 percent on average.

During the call for offers on January 24 (due date January 25), the Central Bank injected an amount of 47.5 billion dirhams in the form of 7-day advances.

Regarding the stock market, the “MASI” index rose by 0.9 percent, bringing its performance since the beginning of this year to 5.1 percent.


This weekly development mainly reflects an increase in the indices of the “Real Estate Recruitment Companies” sectors by 2.7 percent, “Banks” by 1.9 percent, and “Food Industry” by 1.4 percent.

On the other hand, the indicators of the “Metals” and “Buildings and Construction Materials” sectors recorded a decline of 3.5 and 0.6 percent, respectively.

Regarding the weekly volume of exchanges, it moved, on a weekly basis, from 646.8 million dirhams to 2.2 billion dirhams, of which 1.3 billion dirhams were made through the process of the compulsory public offer to purchase “Sanlam Morocco” shares.


Souce : Hespress.

Comments


bottom of page