The demand for bank liquidity in the money market was fully met through interventions by Bank Al-Maghrib (BAM) from November 27 to December 3, according to Attijari Global Research (AGR), the “Weekly Weekly Rate”.
“The money market remains balanced this week due to increased central bank intervention in its core and long-term operations. These are 112 billion dirhams (million dirhams) a week before 104 billion dirhams, thus satisfying all the bank’s liquidity demand,” the source said. he.
This note highlights that the weighted average rate (PMR) remains in line with the average rate of 1.5%, and the MONIA rate (Morocco’s night-time index average), the average rate of repo transactions delivered. It rose 2 percentage points to 1.43% in one week. In more detail, 7-day advances are estimated at MAD 47.5 billion, and longer-term BAM injections remain stable in the money market.
In fact, repurchase agreements, secured loans and foreign exchange were MAD 64.8 billion. Cash surpluses, treasury investments, repurchase agreements and gaps have fallen sharply this week, from MAD 9.4 billion to MAD 11.3 billion a week earlier.