BAM’s Weekly Report: Moroccan Official Reserve Assets Rise to 355.3 Billion Dirhams.”

According to BAM’s weekly report, no foreign currency market auction operations were conducted during this time. According to the same source, official reserve assets as of August 25, 2023, were 355.3 billion dirhams (MMDH), rising 1% weekly and 5% annually.

The entire amount of BAM’s interventions from August 24 through August 30 was 104.4 billion dirhams, which included 24.5 billion dirhams in long-term guaranteed loans, 41.3 billion dirhams in long-term repos, and 38.6 billion dirhams in 7-day advances on call for tenders. The average daily volume of trade on the interbank market at this time was 2.4 billion dirhams, and the average interbank rate was 3%. The Bank provided a sum in the form of 7-day advances of 32.7 billion dirhams at the August 30 tender (value date August 31). The MASI gained 0.3% on the stock market, bringing its performance from the year’s beginning to 11%.

This weekly trend mostly highlights gains in the real estate sector index by 5.8%, the power sector index by 4.2%, and the insurance sector index by 3.2%.

The ones pertaining to the agro-food industries and real estate investment firms, on the other hand, decreased by 1% and 1.9%, respectively.The total amount of commerce was 330.9 million dirhams (MDH), down from 344.3 MDH the week prior. The average daily volume on the central equities market was 66.1 MDH following 85.9 MDH.

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