Compared to the previous week, Morocco’s net international reserves are down by 0.4%.
Rabat – Morocco’s central bank, Bank Al-Maghrib, reported that on August 7, the country’s net international reserves amounted to MAD 291.5 billion ($31.54 billion).
Current reserves represent an increase of 23.8% compared to the same period in 2019, when reserves stood at MAD 278.6 billion ($30.15 billion).
Compared to the previous week, however, the total represents a decrease of 0.4%.
Meanwhile, from August 6 to 12, the Moroccan dirham appreciated by 0.84% against the euro and by 0.30% against the dollar.
Bank al-Maghrib reported that during these seven days, no auction operations were carried out on the foreign exchange market.
The central bank added that it injected a total of MAD 124.5 billion ($13.47 billion).
The sum is divided among seven-day advances on call for tenders (MAD 45.6 billion or $4.93 billion), delivered repo operations (MAD 44 billion or $4.76 billion), financing support programs (MAD 31.8 billion or $3.44 billion), and foreign exchange swap operations (MAD 3 billion or $324.6 million).
During the call for tenders of August 12, for which the valuation date was August 13, Bank al-Maghrib injected MAD 40.3 billion ($4.36 billion) in the form of seven-day advances.
In terms of the interbank market, the daily volume of exchanges stood at 3.7 billion dirhams ($400.3 billion). The average interbank rate stood at 1.5%, according to Morocco’s central bank.
On the stock market, the Moroccan All Shares (MASI) appreciated by 0.9%. This reflects changes in the sector indices of banks (+2.9%), telecommunications (+0.6%) agrifood (-0.7%), and building and construction materials (-0.4%).
The overall volume of trade stood at MAD 241.5 million ($26.13 million), Bank al-Maghrib reported. On the central equity market, the average daily volume reached MAD 48.3 million ($5.23 million) compared to MAD 32.6 million ($3.53 million) a week prior.